Morrisons share price: Grocer revamps loyalty scheme
Wm Morrison Supermarkets (LON:MRW) has revamped its loyalty scheme, replacing its ‘Match & More’ card with a new Morrisons More card, the blue-chip supermarket has revealed. The move comes amid the ongoing supermarket price war which continues eroding sales at Britain’s ‘Big Four’ grocers.
Morrisons’ share price shed 0.86 percent to close at 196.50p yesterday, largely in line with losses in the broader London market. The grocer’s shares, however, have added 16 percent over the past year, and are up more than 30 percent in the year-to-date.
Morrisons announced in a statement yesterday that it was launching a new card, dubbed ‘Morrisons More’, next week, with extra points for café customers and rewards on fuel. The grocer noted that the new card was being sent to existing cardholders and gives customers five points per pound spent in store. When customers earn 5,000 points they receive a £5 voucher, which will be branded the ‘Morrisons Fiver’. The grocer noted that customers will also earn points when buying fuel, when shopping in Flower Shop, Garden Centre and pharmacy, and will be awarded extra points on promotions in store and online.
“We have listened to what our customers tell us they want from a Morrisons loyalty scheme,” the supermarket’s group marketing and customer director Andy Atkinson said in the statement. Morrisons noted that customers’ points on their existing ‘Match & More’ card will be automatically transferred over to their new card.
Morrisons is revamping its loyalty scheme as it struggles alongside the other ‘Big Four’ grocers to keep customers amid pressure from German discounters Aldi and Lidl. Kantar Worldpanel revealed yesterday that Morrisons’ sales had slipped 2.1 percent in the 12 weeks ending May 22, with the group continued to be affected by store disposals.
As of 08:07 BST, Thursday, 02 June, Wm. Morrison Supermarkets plc share price is 196.50p.