For decades, retailers have competed on points. Earn enough, get a free bag of chips. Swipe enough, unlock a discount on your next visit. The logic wa
For decades, retailers have competed on points. Earn enough, get a free bag of chips. Swipe enough, unlock a discount on your next visit. The logic was sound: reward loyalty with loyalty. But something has shifted. Consumers are disengaged. Redemption rates are falling. And retailers are spending billions on programs that aren’t meaningfully moving the […]
