Pick n Pay has overhauled its Smart Shopper loyalty programme, halving the value of the cash rewards but saying it is making the rewards more personal and easier to access. Early indications on social media are that the changes to the most popular customer loyalty programme in the country have not been well received. Smart Shopper, which was launched amid much fanfare in 2011 and which was considered to be one of the more generous retail loyalty programmes, played a critical role in Pick n Pay’s turnaround by helping to lift top-line performance almost immediately. But it was less helpful to the bottom line. From the start, management dismissed suggestions the programme was too generous to be affordable on a sustainable basis. Sasfin Securities’ analyst Alec Abraham questioned the perception that the programme was overly generous. From the company’s perspective it not only drew in more customers, but provided critical stock-management information, he said. "The number of members was...
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