If you have felt like it takes longer to earn a free tank of gas or a $5 reward voucher recently, you are not imagining it. Quietly and without much fanfare, major grocery chains across the country are adjusting the math behind their loyalty programs. The “spend-to-earn” ratios—the amount of money you need to spend to unlock a reward—are shifting. This devaluation of loyalty points is a direct response to the stabilized but permanently higher baseline of food prices. As the cost of goods remains high, retailers are tightening their belts, and your rewards account is taking the hit.
