Supercuts® Debuts Nationwide Loyalty Program with Guests Able to Earn Free Haircuts and More

Rhea-AI Summary

Supercuts®, owned by Regis (NasdaqGM:RGS), has launched Supercuts Rewards®, the first-of-its-kind loyalty program in the salon industry. The program allows guests to earn points on their spending and redeem them for rewards, including free haircuts. Members can earn one point per dollar spent on services and retail products, with a 50-point welcome bonus for enrolling.

Rewards options include:

• $5 certificate for 100 points
• $10 certificate for 200 points
• Free haircut for 400 points

The program is available at 1,900 Supercuts salons nationwide and online at Supercuts.com/Rewards. As of June 30, 2024, Supercuts had 1,949 salons in the United States and Canada, generating sales of nearly $597 million in fiscal 2024.

Positive

• Introduction of a new loyalty program to potentially increase customer retention and spending
• Nationwide rollout across 1,900 salons, indicating broad market coverage
• Flexibility for customers to choose rewards, including free haircuts
• Potential to drive increased sales through repeat visits and higher customer engagement

Negative

• None.

Insights

Market Research Analyst

Supercuts' new loyalty program is a strategic move to enhance customer retention and increase revenue in the competitive value salon market. The program's structure, offering 1 point per dollar spent and a free haircut at 400 points, suggests an average spend of $400 to earn a free service. This cleverly encourages increased visit frequency and higher-value purchases.

The loyalty program's launch could potentially boost Supercuts' market share within Regis 's portfolio, which reported $597 million in sales for fiscal 2024. By incentivizing repeat visits and product purchases, Supercuts aims to increase its average revenue per customer and overall sales volume.

However, the program's success will depend on its adoption rate and the company's ability to manage the associated costs. While it may drive short-term growth, the long-term impact on profitability remains to be seen, especially considering the competitive nature of the value salon segment.

Financial Analyst

The introduction of Supercuts Rewards® represents a potential catalyst for Regis 's financial performance. With a market cap of $57,819,481, RGS could see a positive impact on its top-line growth if the program successfully drives customer loyalty and increases visit frequency.

Key financial implications include:

• Potential increase in same-store sales through higher customer retention and spend
• Possible margin pressure in the short term due to reward redemptions
• Opportunity for improved cash flow from increased product sales and service frequency

Investors should monitor metrics such as customer acquisition costs, retention rates and average transaction value in upcoming quarterly reports to gauge the program's effectiveness. While the initiative shows promise, its impact on RGS's bottom line and stock performance will depend on execution and market reception.

First-of-its-kind program offers a new way for guests to earn points, access additional promotions, and receive free haircuts across 1,900 salons

MINNEAPOLIS, Sept. 26, 2024 /PRNewswire/ -- Supercuts^®, the original value salon, today introduces Supercuts Rewards^®, the first-of-its-kind loyalty program in the salon industry, rewarding guests with FREE haircuts and savings just for keeping up with their haircut routine. Guests can join at any Supercuts salon nationwide or online at Supercuts.com/Rewards. Once enrolled, members earn points on their spending and can redeem them for a choice of rewards, from dollars off services to free haircuts. Members also receive early access to promotions and special offers.

"Supercuts Rewards^® is the result of a deep commitment to listening to our guests and evolving based on their needs," said John Davi, Executive Vice President and Chief Digital Officer at Regis Corporation. "Our guests told us they want the flexibility to choose their rewards and, most importantly, to earn free haircuts. We're ecstatic to introduce the first program of its kind in the industry, continuing our legacy of innovation that began nearly 50 years ago with the very concept of a value salon. We can't wait for our guests to enjoy the benefits."

• To enroll in Supercuts Rewards^®, guests sign up in-salon or online at Supercuts.com/Rewards. Once enrolled, they can start earning and redeeming. It's simple:
  • EARN: Guests earn one point per dollar spent at Supercuts^® on all services and retail products. Guests also receive 50 welcome points just for enrolling.
    
    
  • CHOOSE: Guests select their reward depending on their point balance:
    • $5 certificate – 100 points
    • $10 certificate – 200 points
    • FREE Haircut – 400 points
      
      
• BE REWARDED: Guests redeem rewards at checkout in the salon for savings. The choice and the rewards are all theirs.
  
  
• Expiry: Each individual point expires one year from earning.

"Every year, millions of guests choose Supercuts^® for their haircut needs. With Supercuts Rewards^® we're elevating the value and guest experience of every visit with exclusive benefits and rewards. We're thrilled to reward guests not only for maintaining their hair routine, but also for their loyalty to Supercuts^®," said Michelle DeVore, Senior Vice President, Head of Marketing at Regis Corporation.

Guests can join Supercuts Rewards today at salons nationwide and online at Supercuts.com/Rewards.

About Supercuts: 
Supercuts^®, the original value salon, is owned and franchised by Regis Corporation (NasdaqGM:RGS), a leader in beauty salons and cosmetology education. Supercuts offers haircutting, hair-color services and more through exceptional and professional haircare experiences completed by highly trained stylists at an affordable price. The salon also offers nationally recognized professional hair care products for sale at reasonable prices, including Paul Mitchell, Biolage, Redken, American Crew, Nioxin and more. Supercuts was founded in 1975 and is headquartered in Minneapolis, Minnesota at parent company Regis Corporation. As of June 30, 2024, there were 1,949 Supercuts salons in the United States and Canada generating sales of nearly $597 million in fiscal 2024. For more information, visit supercuts.com, follow @Supercuts on social media, and download the Supercuts app in the App Store, or on Google Play.

About Regis Corporation:
Regis Corporation (NasdaqGM:RGS) is a leader in the haircare industry. As of June 30, 2024, the Company franchised or owned 4,408 locations. Regis' franchised and corporate locations operate under concepts such as Supercuts^®, SmartStyle^®, Cost Cutters^®, Roosters^®, and First Choice Haircutters^®. For additional information about the Company, including a reconciliation of certain non-GAAP financial information and certain supplemental financial information, please visit the Investor Information section of the corporate website at www.regiscorp.com.

Media Contact: Elisenia Centeno-Lopez
Phone Number: 612-416-3602
Email: mediarelations@regiscorp.com
Website: supercuts.com

Media Contact: Megan Rogers
Phone Number: 612-351-8441
Email: meganr@media-minefield.com
Website: supercuts.com

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SOURCE Supercuts

FAQ

What is the new loyalty program launched by Supercuts (RGS)?

Supercuts has launched Supercuts Rewards®, a loyalty program allowing guests to earn points on their spending and redeem them for rewards, including free haircuts and discounts on services.

How many points do Supercuts Rewards members earn per dollar spent?

Supercuts Rewards members earn one point per dollar spent on all services and retail products at Supercuts salons.

What rewards can be redeemed with Supercuts Rewards points?

Members can redeem 100 points for a $5 certificate, 200 points for a $10 certificate, or 400 points for a free haircut.

How many Supercuts salons are there as of June 30, 2024?

As of June 30, 2024, there were 1,949 Supercuts salons in the United States and Canada.