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NEXT GENERATION OF LOYALTY
Starwood Retail Partners debuted Oh, So Simple, a first-of-its-kind rewards program that offers consumers a revolutionary way to earn credit for their purchases at stores across an entire mall. The program piloted at four properties in 2015 and will roll out to all 29 Starwood centers this year. The one-step process links an existing Visa, MasterCard, or personal American Express credit or debit card to an Oh, So Simple Rewards account. Members can connect as many of their cards to the account as they wish.
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CALL YOUR BANK
Good news for retailers: Banks are flush with money and eager to lend.
“Credit is more available than at any time since the great recession,” said Walter Simson, principal of Chatham, New Jersey, -based Ventor Consulting (ventorllc.com). “A more liberal lending environment has opened a window of opportunity for retailers to get more capital with less risk.”