Pret revolutionizes loyalty program with double discounts to propel growth
Club Pret customers now enjoy a doubled loyalty discount of 20% on all Pret A Manger products, following the company's impressive 202% revenue growth in H1 2023
In order to boost sales following the pandemic, Pret A Manger has enhanced its Club Pret loyalty program by doubling the discount offered to its customers. Now, Club Pret members can enjoy a 20% discount on any purchase made in-store. This exclusive benefit is part of Pret's subscription service, priced at £30 per month. The subscription, initially introduced in April, is an evolution of Pret's original coffee subscription, first launched in September 2020.
Club Pret has been experiencing significant growth since its launch in April. Month on month, transactions have increased by 33%, resulting in a total of 17.8 million transactions. Furthermore, the business's revenues have grown by 20.2% in the first half of 2023 compared to the same period last year. This growth can be attributed to the success of the loyalty offer provided by Club Pret.
According to the brand, Club Pret is a crucial component of Pret's digital transformation, playing a vital role in the company's return to profitability. The expansion of the loyalty scheme has been instrumental in driving this success. In 2022, Pret achieved profits of £50.6m, marking their first profitable year since 2018.
Pano Christou, Pret’s CEO, states that since the subscription relaunch, there has been an increase in customers enjoying their favorite baguette or croissant along with their regular coffee fix. Customers are now taking full advantage of Club Pret throughout the entire day and spreading the benefits to their friends and colleagues. In addition to the increased discounts, Pret will be launching its loyalty offer in the US in September, followed by France in November, and expanding to other global markets in the coming year.
"Club Pret is an integral component of our growth strategy, and we are thrilled to expand its availability to a wider audience, providing exceptional value in the process," Christou stated.
Pret has seen two price hikes for its loyalty program since its launch. Initially priced at £20 per month for five artisanal drinks a day, it rose to £25 per month in 2022 for the same package. In April, with the introduction of Club Pret, the price increased to £30 per month, encompassing the five daily beverages as well as the discount.
The business's communication about the initial price increase was hailed as Our Website's readers' campaign of 2022, earning praise from columnist Mark Ritson for its clear and confident messaging regarding price adjustments.
