Bunnings is giving tradies and businesses fuel discounts, money back and Qantas points as companies fight to meet customer expectations in a cost-of-living crisis.
The company launched the six-tiered PowerPass Pro on Monday to help more than 1.1 million customers across Australia and New Zealand in the biggest upgrade to the program since 2011.
Bunnings launched a new loyalty program on Monday. Getty
All members can earn $100 in rewards when they spend $2000 and a further $50 for every $1000 they spend after that.
They can also receive fuel discounts via the Shell Card Lite and earn Qantas points through Qantas Business Rewards, with greater benefits the higher the annual spend at Bunnings.
Bunnings managing director Mike Schneider said the idea came out of customer feedback and will help tradies and small businesses get the most out of their spend.
“We’ve listened closely to our customers, who told us they wanted more than a discount at the register – they wanted to be recognised for their loyalty and rewarded in ways that genuinely support their business,” he said.
“With fuel discounts, travel rewards, Pro Rewards Dollars and benefits that grow over time, the program will help customers unlock more value from every dollar they spend and use it well beyond the job site.”
PowerPass Pro’s membership tiers start from member and go up to essential, plus, elite, ultimate and black.
At the highest level, members can get up to 8 cents per litre off when they fill up at the bowser and 85,000 Qantas points each year.
Research by the Australian Loyalty Association in June found the rising customer expectations and cost-of-living pressures are forcing companies to rethink their loyalty programs.
It revealed 80 per cent of Australians expect better offers if they are members of a loyalty program and 72 per cent expect better service.
Meanwhile, 86 per cent are adopting cost-cutting measures.
“Brands can no longer assume loyalty is a given,” Australian Loyalty Association founder and chief Sarah Richardson said.
Australians are wanting better rewards for their money. Getty
“Consumers are under pressure, they are actively comparing alternatives and they expect tangible value in exchange for their engagement.”
Consumer expert Graeme Hughes said businesses have become better at their loyalty programs than ever before as the space becomes highly competitive.
“Most of us are enrolled into some sort of program, but it’s whether those things can actually provide us with some tangible benefits, and this obviously does come into whether we shop with a particular company or another one,” he said.
“Some of these some of these benefits that they provide you can ultimately impact your buyer decision.”