Loyalty Republic, a startup offering what it calls “Australia’s first bank and card agnostic direct earn rewards program”, is offering free sign ups to retailers as an introductory offer.
The company says it already has more than 100 businesses participating either in-store or online, including Boost Mobile, Adairs, Athletes Foot, LuLulemon, Windsor Smith, and T2.
Offering a transparent 1 point per $1 spend on any debit card through its platform, Loyalty Republic also offers incentives for its user base to shop local.
For users shopping locally, Loyalty Republic says it will be an additional 2 to 5 points per dollar spent, eventually rising to as high as 10 additional points per dollar spent.
At the moment, that’s on a state level, with the company noting it will be more localised and take advantage of location data in the app’s next iteration.
Loyalty Republic co-founder and co-managing director, Katrina Gravelle tells RetailBiz, “We offer a unique program that’s fair and accessible for big and small businesses.
“After so many retailers have closed stores, and online being a huge source of revenue, we want to bring people back in-store.
“17.5 million Australians are enrolled in at least one loyalty program, but less than half of them actively participate. Our aim is to disrupt the siloed rewards landscape by offering greater value, while opening up loyalty and choice to consumers and participating partners – more real time rewards, more often, for more consumers, and freedom and flexibility.”
The points can be exchanged for anything within the company catalogue, which currently includes Apple EarPods, iPads, Nespresso coffee machines, Sheridan sheets, and 250 different gift cards.
Gravelle also points out how the company’s loyalty program co-exists with other membership programs.
“If users have memberships with Everyday Rewards, they could take the points in our ecosystem and convert it for a $5 to $10 gift card at Woolworths, use it to shop in-store, then take back the $10 in cash with their Everyday Rewards card.
“They really have the opportunity to double dip and make the most of whatever other membership programs they may be a part of,” Gravelle says.
Feature Image: Loyalty Republic co-founder and co-managing director, Katrina Gravelle. (Photo Credit: Paul Jeffers)