Aldi, here has made an extraordinary attack, on Coles and Woolworths, claiming that they are not worth chasing. They have made a calculator here to show how small the benefits of these people's rewards program.
I think they are right.
However what the article goes on further to say is that "60 per cent of Australians saying it influences where they shop and 36 per cent of people admitting they spend more because of the schemes" so for such small rewards people are being influenced.
To me what it says is that your loyalty program offering does not have to be much to get decent results and there is no denying that it does have an effect.