Annual results show Kiwis love Fly Buys
Media release: Monday 22 August
Annual results show Kiwis love Fly Buys.
Revenue and profits up as data improves customer experience and more Kiwis get rewarded.
Loyalty New Zealand Limited, the company that owns Fly Buys, today announced growing revenue and profits in its financial results for the year ended 31 March 2016. The results reflect the continued growth arising from Fly Buys’ position as the leading home and lifestyle rewards brand for Kiwis.
Loyalty NZ has delivered Operating Revenue of $89.4 million, up from $87.5 million in the prior year. Rewards based revenue accounts for $73.7 million of Operating Revenue. On the back of more rewards being earned by more members, net profits rose by 83% to $1.5 million from the previous year. The Fly Buys programme allocated rewards with a retail value of $87 million for the year.
Fly Buys continues to grow
250,000 new members joined New Zealand’s largest loyalty programme in the past year, representing one of the biggest increases in Loyalty’s 20 year history. Fly Buys now has more than 2.5 million members. With Fly Buys present in over 74% of the country’s households, more Kiwis are engaged with Fly Buys leading to a 5% increase in points being earned by members and 2% in points being redeemed.
Almost 50 businesses currently participate in the programme and more are joining. helloworld, Molemap and Yellow being the most recent participant brands, illustrating the value Fly Buys provides to companies wanting to connect with and reward their customers.
Stephen England-Hall, CEO of Loyalty NZ, says that listening to what customers want drives the business.
“Loyalty NZ, through the Fly Buys programme, is committed to giving Kiwis the rewards they want for doing their everyday shopping. We continue to expand the programme so it remains simple to use and relevant to both our participating retail clients and their customers.
“The successful performance of our business is driven by creating better outcomes for both our members and clients.”
Understanding customer behaviour through data
The capabilities of Loyalty NZ’s data analytics division LAB360 allows clients to better understand what Kiwis want from retailers.
“Data and innovation plays an important role by allowing us to create more meaningful and personalised experiences for our customers and clients. Investing in data will drive growth for Fly Buys and give Kiwis more of the rewards they want and a more rewarding shopping experience,” says England-Hall.
LAB360 saw a 62% increase in revenue in the 2015/2016 year compared to the previous year.
Fly Buys celebrates 20 years of rewarding Kiwis
This year Loyalty NZ celebrates 20 years of the Fly Buys programme by providing more choice to its customers. Fly Buys continues to innovate by creating new benefits for members including Points + Cash, the New World Clubcard and Fly Buys Pumped with Z Energy.