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Southwest Airlines Devalues Reward Points for 2024
Southwest Airlines has announced a devaluation of its Rapid Rewards loyalty program points. Starting January 1, 2024, points will be worth 4% less than the current value. Rapid Reward points are tied directly to cash prices, which indicates fares will increase by 4% in 2024. The dollar value of points will fall from 1.35 cents apiece to 1.2 cents.
Southwest last devalued points in 2021, when the value dropped by 6%. Rapid Reward points will be worth 90% of the 2019 level in 2024. Members can redeem points at the current value through December 31.
Asda Plans to Double Retail Media Revenue
The British supermarket chain Asda is ramping up its retail media space with the goal of doubling program revenue. The company currently sells advertising on its digital platforms, including podcasts and social sites, and in-store through digital boards, audio, and sampling events.
“We make a material amount of money for Asda and we’ve got ambitions to double it,” said Steven Gray, Head of Retail Media at Asda, at the recent Retail Media Summit UK. Gray said technology has brought an “explosion of touchpoints” across retail media, and Asda is focused on optimizing its portfolio for advertisers, especially consumer services providers.
Gray said that partnering with media agencies and tech companies will be vital to meeting the company’s growth target. Asda plans to use data from its loyalty program to improve consumer outreach online and in stores and make the program app more conducive to advertising.
GM Customer Loyalty Significantly Higher than Average in Q2 2023
General Motors’ customer loyalty performance improved in the second quarter of 2023, according to the consumer reporting firm Experian. GM manufacturer loyalty increased from 73.8% to 75.8%, placing it behind only Tesla at 80.9% in North America. Ford, Volkswagen, and Stellantis experienced declines during the same period. The industry average was 66.2%.
Loyalty to GM vehicle brands — Chevrolet, GMC, Cadillac, and Buick — was 62.9%, a 1.5% increase over last year.
According to Experian, automakers use loyalty to evaluate designs, advertising, and product appeal. GM held the top spot in North American auto sales back in 2021.
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