Programs
 
Bank of America’s Loyalty Rewards Achieve Record Client Satisfaction and Retention
Preferred Rewards has reached 6 million members, and the customers are reporting higher levels of satisfaction than with the program than ever before. “Members report more than 85 percent satisfaction with their banking relationship and have a retention rate of nearly 99 percent. In addition, 8 out of 10 members say they are ‘highly likely’ to recommend the bank to friends and family.”
 
Partnerships
 
Qantas Frequent Flyers to Get More from Woolworths Partnership
The carrier and grocery retailer have revamped their loyalty partnership. “The two companies announced a refresh of their partnership that would increase the conversion rate from Woolworths Rewards to Qantas Frequent Flyer by 15 percent. The conversion to the airline points will now occur when the balance hits 2000 Woolworths points rather than every three months.”
 
IHG and Mr & Mrs Smith Announce Exclusive Loyalty Partnership
IHG has partnered with Mr & Mrs Smith, a travel club and boutique hotel brand, for loyalty offerings. “IHG Rewards Club members will be able to earn and redeem points at over 500 handpicked Mr & Mrs Smith hotels in new and iconic locations when booking through IHG’s direct channels (including IHG.com and IHG mobile app). This exclusive partnership will more than double the number of luxury and boutique hotels which members can choose from, complementing IHG’s luxury and boutique portfolio of hotels and resorts across Six Senses Hotels Resorts Spas, Regent Hotels & Resorts, InterContinental Hotels & Resorts, Kimpton Hotels & Restaurants, and Hotel Indigo.”
 
Customer Experience
 
Papa John’s CEO Says, Unlike Domino’s, They’re Embracing Delivery Apps like DoorDash
Papa John’s is committed to working with third-party delivery services. “The customers have spoken. These apps are growing really rapidly because the customers want these services,” said CEO Rob Lynch. “So, yes, they have had an impact on our industry, an impact on our business. But we believe that’s because we haven’t worked strategically with them. We don’t think it needs to be that way.”
 
McKinsey to Open First Ever Store at Mall of America
In a surprise move, the consulting service has opened a retail store in Mall of America that will enable McKinsey’s clients to see what tech is effectively driving sales in brick-and-mortar stores. “It won’t be a place to buy McKinsey’s signature corporate reports or pop in to get consulting services. In fact, shoppers visiting will have no inkling that McKinsey is behind the space at all. Instead, shoppers will explore a 3,000-square-foot living retail lab (in a space once occupied by an Abercrombie & Fitch kids store) that will feature a regular rotation of different brands using an array of new retail tech. The goal is to allow McKinsey clients to see which technology compels customers to enter a store, shell out more money when they do shop, and stay longer.”
 

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