I’m a loyalty points fan. It’s a hobby; trying to eke a little more value out of my purchases by sticking with suppliers that provide such options. Yes, I know they are harvesting data, and they might be using that knowledge for evil. But I am vigilant about protecting my sensitive info, so I’m OK with big brother knowing what brand of coffee is in my cup, if I get something of value back.
The troubles at Hudson Bay and its rewards points program “suspension” put $10.25 I had stoved away in that loyalty account into limbo. I’m not hopeful I’ll ever see that “reward.” No major setback. My balance shows I wasn’t a major frequenter of Canada’s oldest retailer.
In February, prior to the news breaking about HBC looking for creditor protection, I had tried to use my balance to offset the cost of an online order and they “couldn’t process” my ask. The result, I cancelled the order. I was heading to West Van in March, so planned to do the transaction in-store.
Then the major closing news broke. While HBC.com says the program is “paused,” numerous retail analysts have projected the $58 million in holdings by the loyal program members are now worthless.
A $10.25 warning. Loyalty programs exist at the sponsor’s pleasure and can disappear as quickly as you can sign up. While I made a game of saving to treat myself with something bigger, better or pricier than I might normally purchase, in these uncertain economic times I am changing that practice to cashing in more frequently.
It’s also a good reminder that dealing with local retailers can have benefits far beyond the minor rebates the faceless corporations offer and sometimes take away. Community jobs, services available on-Coast and support of local causes and events are of real value, today and in a tariff-tormented tomorrow.
I emailed HBC to suggest it modify the rewards program to allow members to use points for 10 or 20 per cent of a purchase’s price. Standard retail mark-up on most goods are much higher than that. The impact, in the goodwill category, could be large, especially if it is able to continue to operate on a nation-wide (online?) basis.
HBC may already have considered this. I doubt I am the only one who has thought about it, but I am not expecting a response.
For me, it is likely farewell, $10.25. I won’t be darkening the doors of the franchise my late sister-in-law (who retired from Sears. RIP to both) called “the B-word.” And now, I get it.
