Advantex announced its plans Wednesday to launch the first Internet Shopping Portal linking all CIBC Aerogold VISA cardholders to major e-commerce retailers. CIBC Aerogold cardholders will earn DOUBLE Aeroplan Miles on all purchases when shopping on-line at participating e-commerce retailers, by linking through the CIBC Advantex Shopping Portal. The CIBC Advantex Shopping Portal will be launched prior to the busy Holiday shopping season.
The announcement follows the signing of an agreement with the Canadian Imperial Bank of Commerce and Air Canada. CIBC Aerogold is the number one gold credit card in Canada. Air Canada’s Aeroplan Program is Canada’s most popular frequent flyer program.
“E-commerce retailers face the same challenges of building new and repeat customers as their traditional storefront counterparts. The new CIBC Advantex Shopping Portal will deliver the built-in buying power of several hundred thousand high net worth individuals with high disposable incomes who spend billions of dollars on the credit card each year,” stated G. Randall Munger, Chairman and CEO of Advantex.
CIBC Aerogold cardholders represent a very sophisticated audience who are predisposed to shopping on the Internet, who will now bookmark and pass through the CIBC Advantex Shopping Portal to earn bonus Aeroplan Miles on their purchases. Advantex and CIBC expect high demand from major e-commerce retailers seeking to generate new and repeat customers from the CIBC Aerogold cardholder base. DOUBLE Aeroplan Miles represents a very compelling offer that will drive new business to the participating e-commerce retailers.
“We are very pleased to provide our Aerogold cardholders with an exciting new way to earn incremental Aeroplan Miles,” stated Cheryl Longo, Vice President, Marketing and Business Development, CIBC Card Products Division. “CIBC Aerogold cardholders are early adopters of the Internet, conversant with on-line shopping by virtue of their income and education. We believe the opportunity to earn DOUBLE Aeroplan Miles, on-line, will be a valuable and useful benefit for our cardholders.”
“Expanding into e-commerce is a natural extension of our core business, building on the tremendous success of our CIBC Aerogold Advantex Benefit program with CIBC Aerogold cardholders and merchants alike. There are over 400 participating merchants across Canada, including restaurants, golf courses, country inns and resorts,” stated Munger. “Advantex has a proven track record in creating and managing coalition customer loyalty programs that reach and influence the purchasing behaviour of large consumer groups, in favour of our merchant partners.”
To earn bonus Aeroplan Miles, CIBC Aerogold shoppers will link to leading e-commerce retailers through the CIBC Advantex Shopping Portal, making their purchases directly from the retailers using their CIBC Aerogold card. The bonus Aeroplan Miles will appear automatically on the cardholder’s monthly CIBC Aerogold statement.
Advantex will earn its income from third party referral marketing fees and banner advertising. North American on-line retail revenues are expected to top $36 billion by the end of the year, with a projected growth rate of 145% in 1999, according to a report by The Boston Consulting Group for Shop.org, a trade association focussing exclusively on Internet retailing.
“On-line shopping is exploding and Advantex is well-positioned with all of the necessary components firmly in place to capitalize on this emerging market,” says Munger, “a large captive user base, a well-established loyalty program and, importantly, an effective low cost means of promoting the Advantex Shopping Portal to cardholders every month through the credit card statements.”
Advantex Marketing International Inc. is a leader in the marketing service field, creating and managing value-added coalition customer loyalty programs for its North American client base for the past 15 years. The company’s customer base is extensive, including large financial institutions, packaged goods manufacturers, daily newspapers, retailers, independent and chain restaurant operators, golf courses, inns and resorts. The Company excels in matching the relative strengths of large and small businesses, creating marketing programs that compound the value for all participating parties. Advantex is a public company, traded on the Toronto Stock Exchange under the symbol “ADX”.Details