Canadian Tire to launch new rewards program » strategy

Canadian Tire to launch new rewards program

The retailer hopes the flexibility of earning points at multiple stores will help Triangle Rewards appeal to a wider demographic.

CANADIAN TIRE CORPORATION- LIMITED-Canadian Tire gives its quint

It’s out with the old and in with the new at Canadian Tire as the company prepares to launch a more flexible rewards program.

Triangle Rewards, a free loyalty and credit card program launching this spring, will allow customers to redeem and collect a digital version of Canadian Tire Money at Canadian Tire and its other banner retailers, including Sport Chek, Mark’s and Atmosphere. Members can also collect at Gas+ locations.

According to Susan O’Brien, Canadian Tire’s CMO, having a rewards program to glue the family of companies together just made sense.

“We have customers who have been loyal to Canadian Tire over the years, but we also have a ton of customers who are really loyal and engaged in our other banners,” O’Brian told strategy. “We felt this was an opportunity for us take all of those and bring them together and [for] customers to have the benefits of rewards at all of our family of companies.”

The program aims to appeal to a wide customer demographic, transforming My Canadian Tire Money members – a previous program that allowed members to collect a digital version of Canadian Tire Money – or those who hold an Options or Options World Mastercard, into Triangle Rewards members.

On top of the free rewards card options, customers will also be able to choose between two fee-free credit cards, the Triangle Mastercard – targeted toward millennials and young families – or the premium Triangle World Elite Mastercard, which boasts additional savings on gas, roadside assistance, free oil changes, travel insurance, and concierge service.

Existing Canadian Tire Money will still be redeemable, and My Canadian Tire Money members’ previously earned points will be transferred to the new program.

My Canadian Tire Money has more than 11 million members nationwide, translating to $188 million colourful dollars redeemed in 2017.

Correction: An earlier version of this story incorrectly stated that Canadian Tire Money earned through Triangle Rewards could be redeemed at Gas+ locations. Clarification has also been added around the methods through which members can participate in the program.