“As a result, we have seen a marked uplift in members redeeming and are confident a large proportion of members will redeem their points before the end of the year and get the value they have earned.”
Flybuys points could still be used on items including food, drinks, gift cards, sports equipment, and donations to charity, the spokesperson said.
“Any remaining assets, which may include any value associated with unredeemed points, will be distributed to the shareholders.
Flybuys model has ‘run its course’ – CEO
Lizzy Ryley, CEO of Flybuys’ parent company Loyalty NZ, said its model of a services and retailer alliance – which launched in New Zealand in 1996 – had run its course.
“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,” Ryley said.
A Flybuys spokesperson said they were “hugely grateful” and thanked members for their support over 28 years.
“It’s been a privilege to be a part of so many New Zealanders' lives, helping them save money and enjoy rewards from their favourite brands.”
Alongside Flybuys, Loyalty NZ will transition to closure.
Flybuys was initially launched in September 1996 as a travel rewards programme that enabled customers to “fly through their shopping” with flights via Air New Zealand and Ansett.
However, when the national carrier departed the programme in 2016, the “fly” aspect was no longer as prominent as it once was.
Despite this, the name was kept after engaging with customers on what they thought.
“It was so deeply entrenched in consumers’ minds that to call ourselves anything other than that was always going to be a mistake,” Flybuys chief customer officer Bridget Lamont told the Herald at the time.
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