CHICAGO, Aug. 27, 2015 /PRNewswire/ -- Starwood Retail Partners, the Chicago-based shopping center asset management company announced today the rollout of Oh, So Simple Rewards, a first-of-its-kind rewards program that offers consumers easy to earn credit for their purchases at stores across the entire mall.
The program will debut on September 2 at Starwood's Chicago Ridge Mall, in Chicago Ridge, IL. The Oh, So Simple Rewards program is set to roll out in three additional markets this year and all 29 Starwood properties during 2016 reaching approximately 3,000 retailer locations, more than 100 million annual consumer visits, and $15 billion in consumer spending. The program is operated for Starwood by Spring, as part of the Spring Network.
Shoppers can easily sign up for Oh, So Simple Rewards at Chicago Ridge Mall kiosks or at ShoppingChicagoRidgeMall.com/Rewards. 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 of their cards to the account as they wish. They will then 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 Chicago Ridge Mall stores, they will automatically earn a $10 credit connected to the card(s) registered to their rewards account. Members can use their earned cash value at a retailer they choose.
"Being the first U.S. shopping mall to offer this type of innovative program is a key step in our ongoing effort to be the industry innovator providing powerful tools for retailers and improved shopping experiences for our mall shoppers," said Laurie Paquette, Director of Asset Management. "This robust, efficient and easy to use platform delivers a performance-based solution to retailers that they can use with no risk. Consumers signed up for the program will literally earn cash rewards for shopping at Starwood malls and will receive personalized offers from their favorite retailers that work conveniently through their credit or debit card."
Starwood partnered with Spring to operate the Oh, So Simple Rewards program, as a part of the Spring Network, because of Spring's unique solution to connect digital marketing with in-store transactions in real time across a mall.
According to Spring, retailers now have a performance based solution that can grow revenue, build a customer database for remarketing and get 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. Since the program can track customer transactions and revenue delivered, it provides a first-of-its kind performance based marketing solution for retailers.
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.
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.
SOURCE Starwood Retail Partners