by Hans Eisenbeis
WHAT’S HAPPENING
- In autumn 2010, Target will reward customers who use their Target credit cards and debit cards in stores across the U.S. and at Target.com. Whipping out the RED will result in an instant 5% discount — a very generous rewards program compared to other credit and debit cards.
- Earlier this year, Target tested the program in Kansas City, but only with its store-branded credit card. It was apparently a big success, since they’re expanding the program to include all Target-branded plastic, including debit cards.
WHAT THIS MEANS TO BUSINESS
- Look to major retailers to begin experimenting with their store-branded credit, debit and charge cards.
- Target’s experiment has proven that customers are eager to get cash rewards, and they’ll increase their spending to do it.
RESOURCES
