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Starwood Retail Partners Announce Expansion of Well-Received Mall Rewards Program to Three Additional Shopping Centers
CHICAGO – November 9, 2015 – Following the successful launch of Oh, So Simple Rewards in September at Chicago Ridge Mall in Chicago Ridge, Illinois, more than 5,000 shoppers are enjoying cash back credit on over $150,000 in transactions made throughout the mall in its first month. The one thousand new members signing up each week at Chicago Ridge Mall solidified Starwood Retail Partners plan to introduce the program in three additional markets this month.
Oh, So Simple Rewards, operated by Spring, will now be available mall-wide at Plaza West Covina in West Covina, California, Southlake Mall in Merriville, Indiana, and The Shops at Willow Bend in Plano, Texas. The program is set to expand to 18 additional Starwood properties beginning in spring 2016, reaching approximately 3,000 retailer locations, more than 100 million annual consumer visits, and generating $15 billion in consumer spending.
“We’re excited to rollout the Oh, So Simple Rewards program in three additional Starwood malls as we begin this holiday season,” says Laurie Paquette, Senior Vice President of Property Management. “The response at Chicago Ridge has been overwhelmingly positive and proves that shopper loyalty innovation is in demand in the retail industry.”
The ease and clear-cut cash back benefits of the program have made it popular with both mall retailers and shoppers. Retailers can grow revenue, build a customer database for remarketing and earn guaranteed results. Using real-time spending data, retailers can now engage high intent shoppers while they are in the mall and structure incentives by spend amount, time frame or specific location. Redemption of rewards is automatically administered by the platform and there is no operational burden, change at the point of sale, or involvement by the retailer staff.
Here’s how it works: shoppers can quickly sign up for Oh, So Simple Rewards at mall kiosks or online at each mall website. 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 cards to the account as they wish to automatically earn credit for purchases made across the entire mall and receive real time notifications for cash back rewards. When the shopper spends $250 at any store within the mall, they will automatically earn a $10 credit connected to the card(s) registered to their rewards account. Members can use their earned cash value in any way they choose—it’s simply a cash deposit to their account.
About Starwood Retail Partners
Starwood Retail Partners ("SRP") is a Chicago-based retail real estate platform and owner operator of 29 shopping centers in 14 states across the U.S. that acquires, redevelops, manages and repositions retail real estate assets in order to enhance property cash flow and create long-term value for its capital partners. Formed by Starwood Capital Group, the global private real estate investment firm, and its affiliates, SRP seeks to capitalize on opportunities in the ever-changing retail landscape through a unique combination of talent, experience and execution capabilities in the regional mall, lifestyle, and power center sectors. SRP brings hands on experience in management, leasing and redevelopment to each of its investments, leaving it positioned to acquire, manage, reposition and re-develop market dominant shopping centers into the one-stop shopping destinations of the future.
About Spring: Spring operates the Spring Network which is immediately available to national and local merchants who want to grow revenue through performance-based marketing. Merchants simply opt-in to Spring and can immediately start running promotions – with no change to equipment or operations – adding the ability to track revenue and transactions delivered in real time and increasing consumer visits and spend per visit. Learn more at www.springnetwork.com.