Supermarket’s CEO Aims to Make Loyalty Program a Competitive Weapon

  • Morrisons plans to revamp its More loyalty scheme in September
  • CEO Rami Baitiéh leading the turnaround efforts
  • Investment into loyalty programme includes exclusive member pricing expansion
  • My Points Boosters scheme allowed users to choose up to 10 brands from a personalised list of favourite products
  • Targeted increase in transactions involving the loyalty scheme from 50% to 70%
  • Morrisons and CD&R to inject millions into new offers
  • Like-for-likes excluding fuel and VAT rose 4.1% in Q2, underlying EBITDA surged 16% to £321m

Morrisons is set to revamp its More loyalty scheme in September as part of the turnaround efforts led by CEO Rami Baitiéh. The free membership scheme, which relaunched last year with cardless rewards, is a key component of the new CEO’s recovery plan. Baitiéh informed suppliers that investment into the loyalty program will include a major expansion of exclusive member pricing and increased use of hyper-personalized offers following the My Points Boosters scheme in April. The chief executive aims to increase transactions involving the loyalty scheme from 50% to 70%. Morrisons and its private equity backers CD&R plan to inject millions into new offers. In Q2, like-for-likes excluding fuel and VAT rose 4.1%, with underlying EBITDA surging 16% to £321m.

Factuality Level: 8
Factuality Justification: The article provides relevant information about Morrisons’ plans to revamp its loyalty scheme and increase investment into it as part of its turnaround efforts led by CEO Rami Baitiéh. It also mentions the current performance of the supermarket and its financial progress. The information is based on a source, The Grocer, and does not include any irrelevant or misleading details, sensationalism, redundancy, personal perspective presented as fact, invalid arguments, logical errors, inconsistencies, or fallacies.
Noise Level: 4
Noise Justification: The article provides relevant information about Morrisons’ plans to revamp its loyalty scheme and increase investment into it as part of its turnaround efforts. However, it lacks in-depth analysis or exploration of the consequences of these decisions on various stakeholders and does not offer significant actionable insights for readers.
Financial Relevance: Yes
Financial Markets Impacted: Morrisons (supermarket company)
Financial Rating Justification: The article discusses Morrisons’ plans to revamp its loyalty scheme and increase investment into the program, which may impact the financial performance of the supermarket company and potentially affect its competitors in the market.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.

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