Edward S. Lampert has found a way to make the Shop Your Way program more meaningful for its members.
The chairman of Sears Holdings Corp. inked an agreement with Citi Retail Services to power the Sears MasterCard, which in March will evolve into a newly branded Shop Your Way card. Meanwhile, starting on Nov. 1, the more than five million current Sears MasterCard holders whose cards are linked to the Shop Your Way program will begin earning more membership points at many of their favorite places on a complimentary basis. Cardholders who make eligible purchases within certain categories will get 5 percent back in points for purchases at gas stations and 3 percent at grocery stores and restaurants — those percentages are for the first $10,000 of combined eligible purchases, after which the points earned back becomes 1 percent — and 2 percent at Sears and Kmart. All other eligible purchases earn 1 percent back in points.
Redemption of points can be for items bought at a Sears or Kmart store or online, as well as through Shopyourway.com. Points earned on the card can be combined with other membership point offers with program partners Uber, Ulta Beauty, Liberty Mutual Insurance, Pure Talk, Groupon and Avis Budget Group. The Shop Your Way site notes that there are more than 11,000 participating partners, including online merchants.
Lampert said, “Enhancing Shop Your Way benefits for Sears MasterCard holders is the latest step in the evolution of the Shop Your Way program and is another example of how we are transforming Sears Holdings to focus on serving our members in a wide variety of ways.”
In a blog post Thursday, Lampert said, “From its inception, we envisioned Shop Your Way being the cornerstone of the Sears Holdings’ transformation from simply selling goods to being the one-stop destination for our members as they navigate everyday life. As this member-centric transformation continues to take hold, it will drive material benefits to both Sears Holdings and its Shop Your Way partners.”
Lampert also said additional partnerships will be added to the program over time, noting that Sears “will work with them in generating greater loyalty and member engagement within the ecosystem through a universal points currency.”
The enhanced points system is not a new idea. Macy’s Inc. last year connected with the Plenti Rewards program. Users can earn points for purchases at Macy’s and Plenti partners that include AT&T, Exxon Mobil, Nationwide and Rite Aid. One key difference between Plenti and the Sears program is that Plenti members can earn points at one place and use them at another.