Advance Auto Parts (NYSE: AAP) shares gained ground Monday. The company, a leading automotive aftermarket parts provider in North America that serves both professional installers and do-it-yourself customers, today launched Advance Rewards – a new, modernized loyalty program designed to deliver greater value and features that matter to its heavy and light DIY customers. The new program replaces the former Speed Perks program and rolls out today at all Advance locations and online.
Advance Rewards, this morning’s news release reports, “maintains a familiar, tiered structure while introducing meaningful improvements and value that make it easier to earn and redeem rewards and provide customers with more ways to save.
“The loyalty program’s revised three-tier system – 1st Gear, 2nd Gear, and Top Gear – rewards more frequent shoppers with higher rewards rates and provides greater coupon flexibility, including the ability to combine coupons for up to $100 in savings.
"Advance Rewards delivers the value that our customers are asking for in a loyalty program,” said Bruce Starnes, executive vice president, chief merchant at Advance Auto Parts. "At the same time, it gives us more tools to engage with them, in part through personalized experiences.
“We put the customer first in everything we do at Advance, which is why we've added exciting new features that recognize customer engagement while maintaining familiarity embedded in the core structure of the program.”
AAP shares picked up $1.12, or 2.3%, to $49.13.
