Because of this online shopping obsession I got some 'spam' mail for a online shopping website called MyPoints.com probably five years ago now. For whatever reason the email got my attention and I looked into what it was all about. At first glance, it seemed to simple and to easy to earn the reward points they were touting. The thought of saving additional money though, the professional looking website and the fact that I did not have to provide credit card information led me to sign up.
The premise is simple:
Five years later I still use MyPoints.com and I have received about $300-$400 in various gift cards with the points I have earned! What a concept!
What's in it for MyPoints.com and the various retailers that they work with? In my opinion, it's pretty simple from the retailer standpoint. By having the incentive for the MyPoints.com members to earn more points they will go through their website to reach the retailer they want to buy from. With the same products being offered for the same price on so many websites the online retailers need that one extra catalyst that steers the customer to pick their website over another retailer's.
Before I buy anything now online I will check MyPoints.com to see if they are partnered up with the retailer. If they are not, I will actually spend the time to look for a retailer who carries the product at the same price or better and is paired up with MyPoints.com.
This website and business model is not unique. I have found other websites over the year offering similar services but my loyalities have been cemented. It's just another great example of the creativity companies are coming up with to grow revenues and their brand awareness.
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