Canadian Tire is hoping to bank on the popularity of loyalty programs — and the increased consumer spending they can bring — with the launch of Triangle Rewards.
The company said the revamped program is called Triangle Rewards — named after the shape of the company’s logo — and it now allows customers to collect and redeem Canadian Tire money through an app or loyalty card at more stores, such as Sport Chek and Mark’s. It will also include personalized offers.
The rewards announcement comes after a wider shift of these type of programs in Canada, such as Loblaw combining loyalty programs at its grocery stores and Shoppers Drug Mart.
But the PC Optimum launch also sparked controversy after customers complained about lost or stolen points, technical issues on the website and problems collecting points.
Is Canadian Tire’s rewards program worth it?
The extended rewards program is an “obvious win” for Canadian Tire, according to Sean Claessen with Bond Brand Loyalty in Toronto.
It’s also a win for customers who already shop at the locations, he added.
“If you are the kind of customer who has shopping these places, I think you would find value in using the currency across these the stores,” Claessen explained. “Most customers are looking to be recognized and rewarded in some ways.”
What to watch out for
Like PC Optimum, Triangle Rewards gives customers offers that target their consumer spending, meaning your data is being shared.
So customers should be aware of how their data is being used, he said.
“Loyalty programs are such an overt use of your data. It is about tracking your commercial purchases every time you are shopping,” he said.
The loyalty program also means you’re more likely to spend your Canadian Tire money and are less likely to throw it into the “charity” box, Claessen said.
“I think that now you can see your points accumulating and see the value in the app, you may want to spend more,” he said.
Can you still use Canadian Tire money?
Canadian Tire money has been around since 1958 and the company plans to continue with it. Triangle Rewards money can be earned and redeemed at Canadian Tire and other participating stores.
Canadian Tire money will continue to be the currency used with Triangle Rewards rather than points. For example, if you collect $5.30 in Canadian Tire money, you are able to redeem the same amount.
“Canadian Tire money will still exist if you pay with cash or through a third-party credit card,” Susan O’Brien, the company’s senior vice-president of marketing, said.
Where can you collect the money?
You can collect and redeem money from the loyalty program at Sport Chek, Mark’s, Atmosphere and Gas+ (cannot redeem money) locations in addition to Canadian Tire itself.
“Our first step is giving Canadians more choices to earn and redeem their Canadian Tire money,” O’Brien said.