...became apparent that the Plenti coalition model was creating a business problem for some of its participants. One Macy’s source told PYMNTS that the rewards offered consumers an “asymmetrical” opportunity to input and extract value.

Consumers could — and apparently often did — generate points at “staple” shops like grocery stores and gas stations, places where points are relatively easy to collect, before expending those points at Macy’s, where they could be used against a wider range of goods. That was a good deal for consumers, but not a great deal for Macy’s – particularly because it didn’t do much in the way of driving new traffic into the store....