Despite disappointing second-quarter financial results, Sears Holding Corp. remains confident in its “Shop Your Way” rewards program. “Shop Your Way” has gained traction with members as they continue to engage in all aspects of the program, including points and other program benefits.
While Sears Chairman and CEO Eddie Lampert was disappointed by the second-quarter results – revenue decreased nearly $600 million, to $8.9 billion – he remained confident about the promise of the Shop Your Way program.
“We made meaningful progress this quarter in our transformation to a member-centric company,” Lampert said during the company’s second-quarter earnings call. “Shop Your Way members represented over 65% of our sales and they redeemed rewards points at a significantly higher rate than last year. While the increase in Shop Your Way promotional activity and member redemptions resulted in a meaningful increase in our costs, it demonstrates that our members are deepening their engagement with our program which will allow us to further accelerate our transformation. At the same time, we recognize how important it is to improve the profitability of our company and I am disappointed that we did not deliver a better result."
Sears and Kmart Shop Your Way members now have more ways to earn rewards points by linking an eligible Visa credit or debit card to their Shop Your Way account, then using it at any number of Reward Partner merchants. Since the program began three months ago, Reward Partner merchants like Burger King have already seen a 54% increase in new customers and a 9% increase in visits from existing customers versus a non-enrolled control group. Members who enroll in the new Shop Your Way Link program earn rewards points that can be redeemed in-store, online, or over the phone at Sears and Kmart. Other participating Rewards Partner merchants include Popeyes, Louisiana Kitchen, Picture People, Public Storage, and 1-800-Flowers.com.
"As students and parents head back to school they are looking for extra savings and more ways to earn rewards,” Imran Jooma, executive vice president and president, Marketing, Online, Pricing and Financial Services, Sears Holdings, said in a press release. “Shop Your Way Link allows our members to earn points on everyday purchases made with popular restaurants, retailers and service providers and enjoy a more personalized and rewarding shopping experience with Sears and Kmart. Through Shop Your Way, we are building relationships with tens of millions of members so we can offer a more personalized and rewarding shopping experience."
Through Shop Your Way, members can earn points with rewards partners in two ways:
Shop online with Web Rewards Partners: Members can earn points when they shop with a partner by clicking "View Offer" and then the "Shop Now" button. To shop with Rewards Partners online, visit shopyourway.com/rewardspartners/web.
Shop with participating Shop Your Way Link Rewards Partners: Members earn points by making purchases with their enrolled Visa card at Card Link Rewards Partners locations or websites.
Shop Your Way is a free membership program and shopping community that offers rewards, personalized deals, product reviews, contests and sweepstakes.