Originally Posted by
jaysona
No a loyalty program offers some sort of currency, virtual or otherwise. The best loyalty program examples I can think of are Canadian Tire money and Loblaws PC Points.
I think we have a different idea of what a loyalty program is. Your examples show rewards that are handed out the first time you purchase a product from the store. Obviously, the more product you purchase from the store, the more the reward is worth, but it starts with the first purchase. I'm not sure that makes you a loyal customer.
Would your definition, then, not include the Aeroplan miles available on a flight? That would be a virtual currency. How about the Altitude Threshold gifts? You can get gift certificates that are worth various values. Would these not fall into your definition of virtual currency?