Stein Mart has enhanced its loyalty program to provide even more value for customers. It has doubled the earn rate for its loyalty card, which means cardholders can now earn rewards twice as fast as before. Under the new program, called “SMart Rewards,” Stein Mart credit-card holders now earn two points for every one dollar spent, and Elite cardholders ($500 annual spend) earn four points for every one dollar spent. All cardholders will receive a $10 reward, which has been rebranded as “Stein Mart SMart Cash,” for every 1000 points earned. Additional program benefits include a $10 Stein Mart gift credit upon enrollment, 10 percent off the first purchase, extra savings events, and birthday surprises.
MaryAnne Morin, President of Stein Mart, says, “The standard of what it takes to win and keep customers in today’s competitive retail environment keeps getting higher. Whether it’s introducing new products and services or improving our loyalty experience, we are always looking for new ways to be more relevant to our customers and better serve them. Earning more rewards, on top of our everyday low pricing, makes shopping at Stein Mart even more appealing for style-conscious, value-seeking customers.”
Current Stein Mart cardholders are already receiving their new benefits. The rebranded cards are expected to be in their mailboxes between mid-October and mid-November. Marketing for the new program, along with card reissuance, is expected to re-engage current cardholders and acquire new ones, which will drive incremental trips and traffic to stores and online.
According to the company, this is only a prelude to Stein Mart’s continuing loyalty journey. The company also announced it will be piloting an enhanced multi-tender loyalty program early next year in approximately 100 stores. The primary focus of the pilot will be to enable all customers to earn Stein Mart SMart Cash on their purchases regardless of how they choose to pay.