Macy’s Forecasts Busy Second Quarter Courtesy Of Plenti

The Plenti loyalty rewards program is one of the most unique plans on today’s market.  The program allows credit card users who opt into Plenti to acquire points from purchases made in one industry, and redeem those points by acquiring products in other industries.

American Express is the principle sponsor of the Plenti rewards program.  The credit card company partnered with some of the country’s largest retailers and service providers to develop a truly collaborative rewards program.  Many of these companies launched innovative marketing campaigns promoting Plenti and the other program participants earlier this month.

Macy’s is one of the oldest retailers in the country signed onto the Plenti loyalty program, and began promoting the program on May 4th.  Plenti was a hot topic when Macy’s shareholders discussed the company’s first quarter earnings report, with executives excitedly promoting the loyalty program as a way to boost second quarter earnings.

Macy’s CFO Karen Hoguet was one of the primary speakers at the earnings report meeting, who said Plenti will build loyalty with existing customers and also attract new shoppers.  Hoguet described Plenti as a “coalition” loyalty program that is unprecedented in the US.

“It is the first US loyalty coalition involving major US brands.  It offers consumers everyday opportunities to earn and redeem points with much choice.”

Hoguet said Macy’s signed over two million customers to the Plenti loyalty program in the first week that marketing distributed promotions.  She says the early sign up rate exceeded expectations, and is an early indicator that Macy’s can expect a busy second quarter as more Americans learn about the benefits of Plenti.

Other companies participating in the program include AT & T, ExxonMobil, Rite Aid, and Enterprise Rent-a-Car – where program members may even qualify for rental car insurance discounts.

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