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SCL CONFERENCE 2014RESPONDING TO CHANGE
Extending Customer Choice
Case Study: Macerich
Presented by Fiona Honeyman
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• Retail property owners in the U.S.
• Number of malls throughout the country
• Concierge desks sell their gift cards
SCL CONFERENCE 2014RESPONDING TO CHANGE
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Gift cards in the U.S:
• In the 2012 holiday season over $43 bn in gift card sales changed hands.
• Card sales have remained fairly constant, however, the number of gift cards available continues to rise, increasing competition for market share.
• Closed loop becoming more popular.
SCL CONFERENCE 2014RESPONDING TO CHANGE
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• Client via a third party program manager since 2008
• Open loop cards only
SCL CONFERENCE 2014RESPONDING TO CHANGE
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• Restricted by exclusivity clause
• Offering remained the same whilst customer tastes changed
• Steady decline in sales year on year
SCL CONFERENCE 2014RESPONDING TO CHANGE
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• Macerich changed to a direct relationship with SCL in 2013
• Selected Blackhawk Network to replace old supplier/program manager
SCL CONFERENCE 2014RESPONDING TO CHANGE
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SCL CONFERENCE 2014RESPONDING TO CHANGE
• Integration
• Transition from previous processor to
Blackhawks processor
• More flexibility in terms of products, more
features, tailored to Macerich.
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Now: 6 open loop cards (visa branded)
Over 60 closed loop cards include iTunes, Gap, TGI Friday, Home Depot, Barnes and Noble and AMC Theaters
SCL CONFERENCE 2014RESPONDING TO CHANGE
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• New products launched in late November
• December sales bucked the trend
SCL CONFERENCE 2014RESPONDING TO CHANGE
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
2011 2012 2013
Macerich
GGP
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
2011 2012 2013
Macerich
GGPOther mall client
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New products have opened up new opportunities to compete via offers and other incentives E.G. upcoming Gap Offer
SCL CONFERENCE 2014RESPONDING TO CHANGE
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COMING SOON• Bulk orders
• Mobile sales
SCL CONFERENCE 2014RESPONDING TO CHANGE