High prices and inflation are big issues for consumers these days. Food inflation reached a 43-year high in June. As inflation keeps prices going high, many consumers are switching to lower-cost store brands instead of higher priced name brands.
To help keep loyal consumers, and to gain new ones, General Mills has launched its first-ever brand loyalty program called Good Rewards. The program includes special offers and points for consumers that can be redeemed for products, gift cards, and more, helping families stretch their grocery dollars.
The program gives consumers rewards every time they purchase General Mills products. Consumers scan receipts after shopping to get rewards, including one percent back on all General Mills purchases.
Good Rewards is part of the popular app Fetch Reward. With roughly 15 million Fetch users, it is the top downloaded shopping app for iPhone and the second most downloaded app for Android users. General Mills has a goal of 1 million consumers to use Good Rewards within a year; in less than a month the gained 350,000 users.
Rewards programs also offer brands a detailed look at consumer behavior and purchase habits. The better companies are at understanding their customers, the more opportunity exists to offer personalized rewards.
Group Activities and Discussion Questions:
- Start with a discussion about loyalty and rewards programs and their use in marketing.
- Have students count up the number of different rewards programs they participate with. Who has the most?
- Show Good Rewards website: https://www.generalmills.com/news/stories/introducing-good-rewards
- Show Fetch Rewards website: https://www.fetchrewards.com/
- Discuss setting SMART objectives (specific, measurable, achievable, realistic, and time-bound).
- Divide students into teams. Have each team develop five SMART objectives for General Mills Good Rewards.
- Discuss the objectives. How would the objectives change if a different strategy was used?
Sources: Johnson, B. (5 August 2022). General Mills adds loyalty app. Minneapolis Star Tribune.