Walgreens has upgrades its customer loyalty program with two new credit cards.
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Walgreens introduces retail health and wellness credit program

The drug store chain teamed up with Synchrony Bank to roll out the offering.

· less than 3 min read

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Retailers know co-branded credit cards get customers in the door, so a handful are jumping on the bandwagon. Gap and IHOP recently announced new loyalty programs, and Walgreens is following suit.

Today the drugstore chain is rolling out two new credit cards for its 70+ million members, to reward pharmacy and grocery purchases and healthcare provider visits.

  • Walgreens collaborated with Synchrony Bank, which claims the cards are the first of their kind in terms of rewarding personalized health and wellness choices.

Rewind: Walgreens revamped its customer loyalty program last year, introducing new perks like ​​same-day retail pickup.

  • “We're trying to expand and amplify what they’re earning, and co-branded credit cards and payment devices are a means to do that,” Maria Smith, VP of payments and financial services at Walgreens, told Retail Brew.

The big picture: Co-branded credit cards can drive loyalty in the online era, which is why providers are embracing third-party tech to digitize loyalty experience, per eMarketer. They’re also useful for selling e-commerce features like click and collect and digital wallets.

“Such offerings...can improve repeat engagement among shoppers and maintain or boost cards’ value for loyalists by giving them the retail experiences they demand—in turn making the programs more lucrative for retailers offering them,” according to eMarketer.—KM

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