After closing dozens of stores this year due to falling sales, Macy’s is making some big changes to its loyalty program in hopes of turning its business around.
The department store chain said it has reinvented Star Rewards, based on customer feedback.
Macy’s CEO Jeff Gennette said the new program is a simplified one. It is designed to “better engage, reward and grow” the retailer’s best customers — those who spend the most money.
Here are 5 things you need to know about Star Rewards:
1. You must have a Macy’s credit card: Star Rewards is only available to Macy’s credit cardholders. If you already have a card, you’ll automatically get the new benefits.
2. There are three tiers: Depending on how much you spend annually, customers with a Macy’s credit card will be enrolled into one of three levels: Silver, Gold or Platinum.
3. The more you spend, the more benefits you receive: Rewards are tiered by level, with Macy’s most loyal customers receiving benefits that include free shipping, additional savings and earned points on every purchase. Cardholders will be upgraded to the next tier when their annual spend reaches the new level.
Platinum – Customers who spend $1,200 or more annually at Macy’s with their Macy’s credit card will receive 25% off any day they choose with Star Pass coupons and free shipping on any purchase with no minimum spend. Customers will also earn 5% back in rewards on every purchase and, once they spend $200, will be issued $10 in Star Money that can be used immediately with no merchandise exclusions. Platinum cardholders will also receive an exclusive platinum-colored Macy’s credit card.
Gold – Customers who spend between $500 to $1,199 annually at Macy’s with their Macy’s credit card will receive 25% off any day they choose with Star Pass coupons and free shipping on any purchase with no minimum spend.
Silver – Customers who spend up to $499 annually at Macy’s with their Macy’s credit card will receive 25% off any day they choose with Star Pass coupons.
4. Star Rewards exclusives: Macy’s stores across the country will host cardholders for an exclusive shopping event from 6 p.m. to 9 p.m. on Sunday, October 15, to celebrate the new rewards program.
5. You can still earn Plenti points: Star Rewards is not replacing Plenti, a free loyalty rewards program that lets you earn points in one place and use them at another — including Macy’s.
Macy’s said members will be able to check their status and track their rewards at Macys.com and through the Macy’s app once the new program launches on October 2.