Survey: Majority of consumer interested in redeeming loyalty points
Richmond, Va. — Survey results released Tuesday by Affinion Loyalty Group found that 89% of consumers are interested in redeeming points at point-of-sale.
The survey also found that the respondents identified cash and retail store gift cards as their two favorite redemption items.
However, the survey also inserted a hypothetical variable, which shifted the results. When asked about a POS redemption option — which would allow consumers to use points or miles to pay for anything anywhere, just like dollars — the number of consumers who had previously identified redemption values of points programs as “budget help” ramped up from approximately 25% to a staggering 89% who indicated they would be interested in point-of-sale redemption, with 47% highly likely to redeem points at the point-of-sale.
When respondents were asked what they would redeem for at the point-of-sale, groceries and everyday items were ranked the two most popular categories; cash redemptions become much less relevant in a point-of-sale model.
"Our research indicates the need for an easy to use, omnichannel approach to points redemption, with clear, and simple to understand communication around the program," said Mike McDonnell, VP product management and client solutions, ALG.
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Whole Foods Market names information chief
Austin, Texas — Whole Foods Market announced Tuesday the hiring of Jason J. Buechel as global VP and chief information officer, effective immediately.
Buechel will report to co-CEO Walter Robb and CFO Glenda Flanagan.
Buechel previously was a senior executive and managing director, retail operations, for Accenture.
Sears CEO stepping down; Lampert taking reins
New York — In a surprise move, Sears Holdings Corp. announced that CEO Louis J. D’Ambrosio will step down as CEO, effective Feb. 2, for family health reasons. D’Ambrosio will be replaced by the company’s chairman and its largest shareholder, Edward Lampert.
The surprise move fuels more uncertainty at the retailer, which has struggled with ongoing declines in sales for the past five years. In announcing D’Ambrosio’s resignation, Sears also announced it expects to report a $280 million to $360 million loss ($2.64 to $3.40 per share) in the fourth quarter, which ends Feb. 2. The loss includes a non-cash charge of $450 million in pension settlements and $42 million in pension expenses.
D’Ambrosio became CEO of Sears Holdings in February 2011. He was previously president and CEO of Avaya Inc., a communications company. Before joining Avaya, D’Ambrosio spent 16 years at IBM Corp.
Sears said D’Ambrosio will remain on the board until May 2013.
"In light of Lou’s decision to step down, the board feels it is important that there is continuity of leadership during this important period of transformation and improvement at Sears Holdings,” said Lampert in a statement. “I have agreed to assume these additional responsibilities in order to continue the company’s recovery and sustain the momentum we are experiencing.”
The nature of the health issues affecting D’Ambrosio’s family was not disclosed.
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