Loyalty programs: Another ASX small cap joins the club – here’s who else is in it
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This morning, data technology company PureProfile (ASX:PPL) became the latest ASX small cap to join the loyalty program space.
There’s no shortage of Australia businesses with loyalty and reward programs but there are only a handful of ASX stocks facilitating them behind the scenes.
One of the more higher profile programs is the Flybuys program run by Coles (ASX:COL) and Pureprofile will be helping it out. Pureprofile’s software will be used to create a research community for Flybuys members by offering surveys and allowing them to earn Flybuys points.
Pureprofile CEO Martin Filz says this will create the largest insights panel in Australia and help businesses unearth consumer behaviour.
“Fluctuating consumer sentiment is an ongoing Australian consumer trend, which is why it’s imperative that brands regularly check in with their base and nimbly respond to what the data may reveal,” he said.
“We are excited to work alongside Flybuys and their loyalty members and to find out what’s important to them in 2021 and beyond.”
There are two other ASX tech stocks serving rewards programs and both are relatively new listees.
One is Mobile engagement platform Plexure (NZX:PLX) which helps brands deliver one-on-one offers to consumers’ mobile phones, taking account of consumers’ past behaviour.
The other is Cashrewards (ASX:CRW) which provides cashback offers to customers of its retail partners. It claims to be the largest ecosystem of its kind in Australia.
Cashrewards has 800,000 members and has delivered $2.3 billion of Total Transaction Value across its ecosystem since its inception in 2014, translating to over $55 million in “cash back”.
It is also the first ASX-listed company to pledge part of its equity to charity, having joined the Pledge 1% movement, and is 19 per cent owned by ANZ Bank.
Of course several other companies have rewards programs in their own right and two of the more notable are Woolworths (ASX:WOW), which runs the Everyday Rewards program, and flag carrier Qantas (ASX:QAN) with its Qantas Frequent Flyer program.
Its key rival Virgin Australia also has a program but the company has delisted from the ASX, while Regional Express (ASX:REX) does not currently have a formal program but plans to launch one in the coming months.