How to update your outdated consignment rewards program

Breathe new life into your consignment store rewards program

Younger generations love a rewards program. In fact, studies show 70% of Millennials are members of some type of loyalty program. Likewise, 82% of Gen X is active in at least one or more loyalty plans. Many retail stores are revamping and updating their membership clubs. Today, shoppers are looking for personalized programs that offer immediate benefits. If you don’t have an established rewards program, now’s the time to create one. If you already have one, take a look at some of these ideas. It may be time to update.

Macy’s creates the Star Rewards tiered program

• With their plan, Macy’s credit cardholders are automatically enrolled in one of three rewards levels, “Silver,” “Gold” or “Platinum.” Non-Cardholders are placed in the “Bronze” level.
• To get into the “Platinum” tier, customers must spend $1,200 or more with Macy’s annually. Those customers receive special coupons and earn 5% back in rewards on every purchase they make. Plus, these customers receive free shipping with no minimum purchase. Those in the “Gold” tier must spend $500 to $1,199 annually. They receive special coupons, as well as the free shipping, but not the 5% rewards points on every purchase. Customers in the “Silver” category must spend up to $499 a year and only earn coupons.
• As special incentives, Macy’s may occasionally offer cardholders any Star Rewards status and non-cardholders various opportunities to earn additional points. During Star Money Days, “Bronze,” “Silver” and “Gold” members earn points on qualifying purchases (1,000 points = $10 in Star Money). “Platinum” members earn even more points.

Wayfair does it “My Way”

• “MyWay” is Wayfair’s new membership program with an annual fee of $29.99.
• MyWay members in the lower 48 states receive free shipping with no minimum purchase. (A few exclusions do apply.) They also receive 25% off in-home services such as assembly and upgraded delivery options; access to exclusive content and insider sales, plus free 1-day shipping for certain items.
• The program’s benefits can be used at Joss & Main, AllModern and Birch Lane.

Nordstrom revamps The Nordy Club rewards program

• The Nordy Club is free to join. Members earn 1 point per dollar spent. However, Nordstrom Credit Card holders earn 3x more than non-cardholders. Points accrue based on how much you spend. For instance, shoppers receive a $20 Nordstrom Note for every 2,000 points earned.
• In a bid to offer a more personalized experience, shoppers can create a “Nordy Portrait,” very similar to consignor access.
• Like Macy’s Star Rewards, Nordy Club customers earn a “status” based on how much they spend. Obviously, the higher your status, the more rewards you get. The 4 levels are “Member,” “Insider,” “Influencer” and  “Ambassador.” Benefits range from free alterations to invite-only events.

Score big with the Score Card from Dick’s Sporting Goods

• Score Card membership is free. Members receive 1 point for every dollar spent on a qualified purchase at Dick’s, Golf Galaxy and Field & Stream.
• There are several ways for shoppers to earn extra points. For instance, just downloading and logging into your account through Dick’s Sporting Goods mobile app earns bonus points. Plus, redeeming Bonus Point coupons and opting into eRewards earns extra points too.
• Score Card members receive a $10 reward for every 300 points they earn, plus exclusive discount coupons.

Other ideas for your Rewards Program

• Free birthday rewards (Starbucks and JC Penney)
• Club members earn a coupon for 20% off their next purchase (Big Lots)
• Earn 10 points for every dollar spent, double points for purchases of $100 or more (A.C. Moore)
• Buy 5 and get the 6th free (HoneyBaked Ham)
• Earn points or discounts for donations or recycling items (Recyclebank)
• Rewards for military personnel and/or seniors for shopping on particular days (Goodwill and Bass Pro Shops)

SimpleConsign, Traxia’s web based software program, offers a built-in Rewards Program. You set the value for points and we keep track of the rest!

SimpleConsign

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