Kohl's Rewards is now live nationwide following a pilot program that took place in 13 markets. Millions of Yes2You Rewards members will be transitioned to the new loyalty program, which offers a simplified structure and 5% Kohl's Cash on all purchases.
The nationwide rollout comes after Kohl's took a big hit in the second quarter. Net sales decreased nearly 23%, while net income fell 80%. The results were due in part to the coronavirus pandemic, which temporarily closed Kohl's locations and made shoppers more wary of in-store shopping. But Michelle Gass, CEO of Kohl's, said the department store retailer's investments in its digital capabilities would soon pay off. Its competitors are largely in the same boat, and Gass believes that Kohl's is in a position to take market share from weaker rivals as the retail shakeout continues. The department store chain is also relying on its new and improved loyalty program to engage shoppers.
"Loyalty is another important piece of our strategy," Gass said. The program, which has been in a pilot stage for years, is more streamlined than in its past iteration, according to Gass.