Dive Brief:
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Madewell has expanded its Insider loyalty program to include points for every dollar customers spend, the retailer said in an email to Retail Dive.
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Customers will earn one point for every dollar they spend and receive a $10 reward for every 250 points earned. Insider members can also access free limited edition products and special events and earn twice as many points on jeans and products tied to charities, per the emailed statement. Participants also get free personalization and shipping on purchases.
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Since its inception in 2016, 62% of its customers are now participating in the Insider program. In response to the program's success, the retailer wanted to create more experiences and incentives for loyal customers, the company said via email.
Dive Insight:
Madewell is among other retailers that have recently revamped incentive programs, including Macy's, Sephora and Michaels. Loyalty programs have traditionally been a means to attract and retain customers even during tense times.
"We view the Madewell Insider membership as the customer's passport to the world of Madewell. It is a platform to help us build stronger relationships with our customers and deliver more personalized shopping experiences," Madewell Chief Marketing Officer, Derek Yarbrough, said in a statement. "We're excited to announce the launch of points and rewards to deepen the membership experience and further deliver on our promise of premium quality at a great value."
J. Crew Group, Madewell's parent company, has faced financial hardship and has weighed tough decisions as a result. J. Crew filed for bankruptcy in early May, and decided to keep Madewell as part of the company after previously announcing that it would spin off the brand. This week, the company stated that it expects to emerge from Chapter 11 in early September after it won court approval of its reorganization plan.
"The confirmation of our plan of reorganization is another significant milestone in our path to transforming our business to drive long-term, sustainable growth for J. Crew and further advance Madewell's growth momentum," CEO of J. Crew Group, Jan Singer, said in a statement.
Earlier this month, J. Crew group stated that it had received concessions from landlords for its namesake and Madewell stores, totaling around around $130 million in savings over the next two years, "assuming sales are in line with projections." The majority of its stores have been reopened after temporary closures due to COVID-19 and the company has reinstated most of its retail staff.
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August 26, 2020 at 11:53PM
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Madewell expands its Insider loyalty program - Retail Dive
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