Dive Brief:
- As Victoria’s Secret refreshes its marketing strategy, the company on Friday announced a pilot for a new loyalty program, dubbed “The VS & Pink Collective.” The program will offer rewards, member exclusives, digital community features and added benefits for cardholders.
- The rewards program is the company’s first that allows shoppers to buy from either Victoria’s Secret or Pink and earn rewards regardless of payment method, according to a company press release. The Pink Nation loyalty program will be phased out this month.
- The VS & Pink Collective has three tiers, which unlock additional benefits as shoppers spend more. The pilot will be open to 30% of the company’s current customers in select states in the U.S. to gather feedback and a full rollout is planned for later this year.
Dive Insight:
The latest step in Victoria’s Secret’s marketing journey is a revamped loyalty program that covers both its namesake and Pink brands.
The tiered program starts with an Insider level, which has no spending minimum, and also includes an All-Access tier, which requires annual spend of $300 or more, and a VIP level if a customer spends $750 or more. Shoppers earn points for every qualifying purchase, regardless of tier. Although it moves away from a more credit card-dependent model, Victoria’s Secret credit card holders earn rewards faster than regular members when they use their card and are automatically enrolled in the second tier of the program.
In addition to earning points, loyalty members have access to perks like a $10 birthday gift, free shipping for certain online orders and early access to some product releases. There will also be a community platform where shoppers can interact with each other. When the program rolls out more broadly, Victoria’s Secret plans to offer members customizable rewards and new tech features.
“Victoria’s Secret and PINK are fortunate to have had decades of loyal customers and fans,” Chris Rupp, chief customer officer for Victoria’s Secret & Co, said in a statement. “Through our transformation journey, we’ve been listening to these customers and have focused our approach on what they want and need.”
Launching a revitalized loyalty program is far from the only thing Victoria’s Secret has tried to change about its marketing recently. In 2021, the retailer made a sharp branding pivot by introducing the “VS Collective,” a group of influential women that included Megan Rapinoe and Priyanka Chopra Jones, among others, to help shape the company’s messaging. Since then, the company has been on a path to try and regain relevance with the modern consumer through more inclusive marketing campaigns and improved merchandising in stores.
The retailer also made waves by acquiring DTC lingerie brand Adore Me for $400 million, a deal that closed in January and is expected to add meaningfully to Victoria’s Secret’s sales this year.
via https://www.aiupnow.com
Cara Salpini, Khareem Sudlow
