Retail rewards programs are designed to foster customer loyalty, but in recent years, many companies have “devalued” their programs to cut costs. They make it harder to earn points, reduce the value of redemptions, or add frustrating restrictions, all while hoping customers won’t notice. This trend, prevalent in 2024 and 2025, has turned some of the most popular loyalty programs into a bad deal for consumers. For these five programs, the “reward” is often no longer worth the effort it takes to earn it.
