- Canadian Tire says it’s expanding its rewards program next month by offering a digital option to customers who want to collect and redeem Canadian Tire money on a card or smartphone. But the retailer wants its customers to know that the addition of the new digital option does not mean it’s getting rid of its much-loved Canadian Tire paper currency. Chief operating officer Allan MacDonald said the new program allows customers to easily manage their account and redeem rewards on their smartphone or online.
- He said Canadian Tire learned many lessons about what it wanted its digital rewards program to look like after a pilot version was launched in Nova Scotia in 2012. It found that those who had a loyalty card did not necessarily buy more items during each trip, but they shopped with frequency. The digital loyalty program also allowed Canadian Tire to send customers tailored deals and specials based on their shopping patterns. For instance, the retailer was able to learn that if one family had children who were hockey players, it would send specials on hockey equipment at the start of a season directly to them via the app or email.
- Canadian Tire is a 1.5% weight in the portfolio.
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Portfolio Update - Oct 1, 2014
Published by Gregory Bonnell on Oct 01, 2014