Consumers will be rewarded with points that are generated through everyday payments. In financial services, Visa has teamed up with challenger bank Novus to develop an app which rewards consumers when they make sustainable purchasing choices. Cosmetics company Kiehl’s offer rewards in return for empty containers earning points for each container which can be redeemed against vouchers to spend instore. Examples include H&M offering ‘conscious points’ to customers who buy products that have a green hangtag bring in clothes for recycling, or use their own shopping bags. There are a number of reward programs already available based on sustainability across a range of sectors, particularly in fast-fashion where retailers are keen to demonstrate their sustainability credentials. The programs are a way for organisations to demonstrate their green credentials while simultaneously appealing to the growing number of more eco-conscious customers.

In the coming months, we expect to see more flexibility and variety, as this type of re-imagining extends across the wider market.Ĭonsumers are increasingly becoming more environmentally conscious, with sustainability becoming a focal point of many loyalty programs. For example, OpenSparkz has partnered with restaurants affiliated to the Accor chain in the UK to incentivise and earn credit to spend on dining. With a shortage of spend in their own sector, several travel brands enabled customers to earn rewards in adjacent categories. Meanwhile, the pandemic precipitated some changes to the way many merchants run their programs. With others, a higher-earn rate is automatically applied to the consumer’s top spend category.

For example, with some programs, consumers can choose to apply a bonus to their preferred spend category each month. To secure higher levels of consumer engagement, as well as to lift and shift spend, there is an emerging fintech-led emphasis on customization and gamification. More flexibility – in the way rewards can be earnedĪs with many other aspects of the payment business, the fintech community has brought fresh thinking to reward programs, especially on earning options.

Loyalty rewards program ideas