Tuesday, September 23rd16.6°C
23284
22934

Tim Hortons pairs with CIBC in first step for loyalty program launch

Tim Hortons (TSX:THI) is launching its own loyalty rewards program in response to growing competition in the coffee market.

The company has partnered with CIBC for a Visa credit card that accumulates points redeemable at Tim Hortons stores, part of a broader effort to give its customers more incentives.

Chief operating officer David Clanachan says a loyalty program for coffee drinkers who don't want to use a credit card is also in the works.

"We really like the idea of turning over a new leaf and doing it in this controlled format," he said in a phone interview.

"We see this as a big part of our future and this is kind of our first foray down that path."

Some of Tim Hortons' biggest competitors have made loyalty programs a priority.

McDonald's offers a McCafe sticker card for regular coffee drinkers, while Starbucks has both and app and rewards card that gives free drinks and food to frequent customers.

Tim Hortons has grappled with fewer transactions at its restaurants even as fourth-quarter profits increased marginally to $100.6 million in its latest period from $100.3 million a year earlier.

Revenue grew 10.7 per cent to $898.5 million from $811.6 million, the company said Thursday.

CIBC's (TSX:CM) partnership with Tim Hortons materialized as the Canadian bank searched for new incentive programs for its credit card slate. Last year, the bank lost exclusivity for an Aeroplan-branded credit card after more than 20 years.

The Tim Hortons credit card will be available starting in May.

The Canadian Press


Read more Business News

22908


Recent Trending




Today's Market
S&P TSX15137.79+8.79
S&P CDNX926.13-1.96
DJIA17074.94-97.74
Nasdaq4513.114-14.575
S&P 5001985.11-9.18
CDN Dollar0.9031-0.0026
Gold1223.90+6.00
Oil91.50-0.91
Lumber332.50+5.90
Natural Gas3.893-0.015

 
Okanagan Companies
Pacific Safety0.15-0.02
Knighthawk0.01-0.005
QHR Technologies Inc1.30+0.03
Cantex0.05+0.01
Anavex Life Sciences0.199-0.0205
Metalex Ventures0.06+0.01
Russel Metals34.77-0.60
Copper Mountain Mining2.43+0.03
Colorado Resources0.160.00
ReliaBrand Inc0.0206-0.0043
Sunrise Resources Ltd0.02-0.005
Mission Ready Services0.270.00

 



22831

FEATURED Property
1941017#120, 3550 Woodsdale Road
2 bedrooms 2 baths
$217,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Is this a fair offer from ICBC?

“Is this a fair offer from ICBC?”…. “How much should I settle for?”… “What is my claim worth?” These are just some of the questions I regularly get as...


Disruptive innovation

Last night I was privileged to be able to speak at the Greater Westside Board of Trade business awards dinner. Photo: ContributedI talked about Innovation and Collaboration which are two very interes...


Executors and their duties

There will be a time when you will need to decide who you should appoint as executor of your Will. As well, there may be a time when you will be asked by someone to act as the executor of his or her W...

_





23448


Member of BC Press Council


22632