Today’s consumer is smarter and savvier than ever before. Changing consumer behaviour is inspiring a host of new and novel retail strategies, from omni-channel to experiential shopping. It can be argued, however, that at the end of the day, what matters to many consumers hasn’t changed at all — it’s still all about reward and convenience.
With this in mind, CapitaLand Mall Asia, CapitaLand’s wholly owned shopping mall business, has joined hands with American Express to launch the American Express CapitaCard, Singapore’s only multi-mall loyalty credit card.
Backed by CapitaLand’s rewards programme CAPITASTAR, CapitaCard members will enjoy the highest earn rate for CAPITASTAR reward points (called STAR$ ® ), which can be exchanged for CapitaVouchers for use at CapitaLand malls. Shoppers earn 15 STAR$ ® for every S$1 spent on their CapitaCard at participating retailers across 15 CapitaLand malls and an additional 5 STAR$ ® if they scan the receipts of their purchases using the CAPITASTAR app or self-service kiosks. This translates to 20 STAR$ ® per S$1 when they shop in participating CapitaLand malls — four times the rewards currently enjoyed by CAPITASTAR members.
Every 5,000 STAR$ ® can be exchanged for a S$5 CapitaVoucher for spending in CapitaLand malls. Cardholders also enjoy parking privileges at participating CapitaLand malls when they achieve the monthly minimum spending.
A win-win deal
Under this strategic partnership to drive customer loyalty with Singapore’s largest shopping mall network, more than 2,000 retailers in the 15 participating CapitaLand malls will also stand to benefit from the companies’ combined efforts to drive shopper traffic, increase sales and encourage repeat spending.
Mr Jason Leow, CEO, CapitaLand Mall Asia, said: “By rewarding American Express CapitaCard spending with STAR$ ® , it will not only strengthen CAPITASTAR as CapitaLand’s key customer engagement platform, but also our efforts to integrate our physical malls with the online world. Not only is CAPITASTAR well positioned to grow from its current membership base of 2.8 million shoppers across Asia, including about 800,000 in Singapore, this partnership will also broaden American Express’ reach in Singapore.”
Added Mr Leow, “American Express operates a unique business model with aggregated data insights that provides value for card members, merchants and its partners including CapitaLand. This partnership creates a win-win ecosystem to benefit both our shoppers and retailers – the more people shop with us, the more we understand them and the better we can serve their needs and aspirations.”
This was echoed by Mr Cheng Heng Chew, Singapore Country Manager, American Express, who said: “Shoppers and retailers are both going to benefit from this partnership. Customers can take advantage of the great rewards and payment flexibility afforded by the new American Express CapitaCard, and retailers are going to see more engaged and loyal customers.”
A rewarding start
American Express CapitaCard members will receive a welcome bonus of 20,000 STAR$ ® when they make their first successful transaction with a minimum eligible spend of $1. CapitaCard members who spend at least $888 within the first six months will earn another bonus of 30,000 STAR$ ® . Terms and conditions apply.
To apply for the American Express CapitaCard, please visit www.amex.co/capitacard or apply in person at American Express booths in Bugis Junction, Raffles City, Tampines Mall and Westgate by 31 December 2016.