Michaels adds new perks to its rewards program

Dive Brief:

Michaels has added more incentives to its rewards program, the company announced on Tuesday. Through the program, customers will be able to earn rewards through certain items they buy, bonus offers and seasonal promotions, the company noted in its statement.
Current and new program members can earn $5 in rewards for purchases of $25 or more until September 12, and new members can sign up online or in-store for free.
Members can manage their rewards online and through the Michaels app, where they can check out bonus offers, see how many incentives they've accrued and view the weekly Rewards Specials, per the company statement.

Dive Insight:

Michaels joins a growing list of retailers that have recently revamped their loyalty programs. Macy's and Sephora, among others, have updated their loyalty programs this year, following a broader pattern of stores making their incentives more enticing to shoppers.

"We are constantly looking to enhance the ways we engage with our customers as we expand our digital and omnichannel capabilities," Michaels Chief Customer Officer Vidya Jwala said in a statement. "Our revamped loyalty program allows us to create long-term engagement with our Michaels Rewards members, while strengthening our relationships with the maker community. As the program expands, we'll look to introduce even more ways for our members to earn rewards and provide more value to our community of crafters."

Michaels' loyalty program update is another move the company has made in recent months to boost its customer offerings. Back in April, the crafts retailer introduced contactless and same-day delivery options.

The store's digital and delivery upgrades come after Michaels and a slew of other retailers, including Joann, Gap, At Home and The Container Store, were downgraded by S&P Global at the start of the COVID-19 pandemic. Michaels Companies was also downgraded to B+ from BB- in December, indicating that the company had financial issues before the coronavirus pandemic upended retailers' operations.