Loyalty scheme Flybuys, and the company behind it Loyalty New Zealand, are to close down citing a changed landscape for loyalty programmes.
On its website Flybuys says it'll be; "saying goodbye to Kiwis at the end of 2024 after nearly three decades of rewarding Kiwis, but for now nothing changes – so please keep scanning to keep earning Flybuys."
"You can still earn Flybuys across our partner network until 11.59pm on 31st October. And you have until 11.59pm on 31st December to redeem your Flybuys Points. Thank you to all our members who have supported Flybuys over many years. It’s been a privilege to be part of so many Kiwis’ lives."
And in a statement issued at 1:26pm on Thursday, just ahead of the Budget, Loyalty NZ says Flybuys, which has been operating since 1996, will close at the end of 2024.
"The landscape for loyalty programmes has changed, and continues to change rapidly, with businesses now having greater access to technology and capabilities that enable them to create their own highly tailored proprietary loyalty programmes. The Flybuys model of a services and retailer alliance has run its course, so will close at the end of this year," Lizzy Ryley, CEO of Loyalty NZ, says.
Loyalty NZ's shareholders are Z Energy, BNZ, IAG NZ and Foodstuffs Ventures (NZ).
"Alongside Flybuys, Loyalty New Zealand, the company that administers Flybuys, will transition to closure," says Ryley.
Ryley says IAG NZ will acquire some of Loyalty NZ’s assets and will also be making offers of employment to about a third of Loyalty NZ’s staff.
"IAG NZ intends to harness the underlying technology and capability of Loyalty NZ’s people to significantly enhance its ongoing business transformation activities. This acquisition will further support IAG NZ’s promise to deliver an exceptional experience to its customers and business partners. This will take place after Loyalty NZ has been wound down," she says.
5 Comments
Fly buys were good when they started, and through to they switched to airpoints dollars, which drastically watered down the value of their points. Used to be able to get a ton of points with Amex back then and for those who could plan their finances well, benefit greatly from it in cost vs benefit.
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