Sunday, April 5, 2015

Shoppers Optimum Rewards Program Review (Expired)

The Shoppers Optimum rewards program is one of my favorite rewards programs in Canada. The Shoppers Optimum card is accepted at participating Shoppers Drug Mart stores and any other designated locations across the Canada. You can earn 10 Shoppers Optimum points for almost every dollar spent, including prescriptions (points cannot be awarded on prescriptions in all provinces).

You can collect Shoppers Optimum points even faster with valuable Points Events like 10X/15X/20X the points in-store. And you can also get bonus points on specially marked items in Shoppers Drug Mart every day.  Remember to register and receive email offers, exclusive for Shoppers Optimum members.

If you want to earn Shoppers Optimum Points on purchases outside of Shoppers Drug Mart, you can open a RBC Shoppers Optimum Banking Account and a RBC Shoppers Optimum MasterCard. You can earn up to 70,000 bonus points and 2.5X more points with the purchase inside Shoppers Drug Mart.

What are your Shoppers Optimum points worth? Assuming that you earn 10 points for $1 spent, the rebate ratio is:
  • 8000 points = $10 = 1.25%
  • 22,000 points = $30 = 1.36%
  • 38,000 points = $60 = 1.58%
  • 50,000 points = $85 = 1.70%
  • 95,000 points =  $170 = 1.79%
As you can see, the return is quite good. If considering the 20X points events, the potential return could be up to 35.8% (it is quite amazing).

BTW, Loblaw bought Shoppers Drug Mart for $12.4B in 2013. According to the Shopper Optimum Rewards Program "Terms and Conditions": The Shoppers Optimum Program will terminate at 11:59 p.m. on December 31, 2016. Shoppers Optimum Members will have until March 31, 2017 to redeem Shoppers Optimum Program rewards using Shoppers Optimum Points accumulated up to the Termination Date. Shoppers Optimum Points will expire at 11:59 p.m. on March 31, 2017 and will not be honoured after such expiration date. We may see PC Points Program in Shoppers Drug Mart after that.