Amex to culminate loyalty program Plenti in the second half of 2018
Category: #retail  By Dhananjay Punekar  Date: 2018-04-17
  • share
  • Twitter
  • Facebook
  • LinkedIn

Amex to culminate loyalty program Plenti in the second half of 2018

American Express, a U.S. based multinational financial services corporation, has decided to discontinue Plenti, a frequent-shopper program classified as one of its loyalty programs, from the 10th July 2018. The company sources also declared that all the Plenti points are going to expire and will not be redeemed for benefits or rewards such as cashback post 10th July of this year.

For the record, Amex launched Plenti in May 2015 as a reward program for customers, thereby strengthening the bond between customers and retailers. Firms such as ExxonMobil, Macy, and Rite Aid had launched Plenti as the first U.S. based loyalty program that included an entire team of retailers, under the auspices of Amex.

The unique feature of the frequent-shopper program was that a U.S. shopper could earn loyalty points from one retail firm and redeem it at another retail store. In short, customers were provided with the facility of purchasing products from a particular retail store and getting the points that they can convert for rewards at other retail shops. Industry analysts back then claimed the program as a move that could help retailers attract frequent shoppers to make repeated purchases.

In 2015, Amex also launched a Plenti credit card that allowed the consumers to gain points even if they did not shop at the listed retail stores. In such instances, the customer would have one point deposited in his or her Plenti accounts on each dollar spent, apparently.

Starting 2017 however, the loyalty program did not receive the required boost from the shoppers. Indeed, the program had even begun to lose some of its key members such as Macy and Chili. Plausibly on the grounds of its declining popularity among the customers, state analysts, American Express may have decided to shut down its loyalty program.



About Author

Dhananjay Punekar

Email: [email protected]   

Dhananjay Punekar

Dhananjay Punekar presently develops content for a slew of portals, including Market Size Forecasters and Algosonline. A post graduate in mathematics and business administration, he worked in Infosys BPO Limited prior to switching his professional genre. As a content wr...

Read More

More News By Dhananjay Punekar

AstraZeneca gets import & marketing approval for Durvalumab in India
AstraZeneca gets import & marketing approval for Durvalumab in India
By Dhananjay Punekar

AstraZeneca Pharma India, a division of pharma & biopharma giant AstraZeneca plc, has received a green signal from the Indian drug regulating agency DCGI (Drug Controller General of India) for its drug Durvalumab c...

BP exits deal with Woolworths, retail firm looks out for alternatives
BP exits deal with Woolworths, retail firm looks out for alternatives
By Dhananjay Punekar

BP Plc, a UK based oil & gas firm, has decided to terminate its USD 1.8 billion acquisition deal with Australian retail giant Woolworths. For the record, the British oil & gas company had signed a pact to purch...

Sarepta obtains positive results on DMD therapy, shares skyrocket 50%
Sarepta obtains positive results on DMD therapy, shares skyrocket 50%
By Dhananjay Punekar

The shares of Sarepta Therapeutics Inc., a medical research & drug development firm, climbed up by 50% after the firm released initial results derived from clinical treatment on patients suffering from Duchenne mus...