Barnes and Noble is shaking up the bookselling game with their new Premium Membership program. For just $40 a year, customers can enjoy 10% discounts, free shipping, a tote bag and bigger lattes. Not only that, but they can also earn a virtual stamp for every $10 spent online or in stores and get a $5 credit for future purchases once 10 stamps have been accumulated.
This new program is replacing the previous one, which cost $25 a year and only offered discounts for purchases made inside Barnes & Noble’s physical stores, as well as free shipping for most online orders. The CEO of Barnes and Noble, James Daunt, said that this strategy didn’t extend discounts to online shoppers, which conflicts with the retailer’s goal of making books available wherever customers want to buy them.
The new $40-a-year program is expected to attract new customers and keep the total number of paid members about the same at year-end. According to a PYMNTS report, Amazon Prime members spend 113% more than nonmembers each month, while Costco and Sam’s Club members respectively spend 101% and 109% more in-store than nonmembers.
Barnes and Noble’s new Premium Membership program is a great way for customers to save money and get rewards for their purchases. With this new program, Barnes and Noble is sure to compete with Amazon Prime and Walmart+ for the title of largest bookseller in the United States.