EXCL - Rolls out loyalty program

EXCL - Rolls out loyalty program XL Axiata (EXCL) has rolled out a reward point program for customers, namely XL Poin. The program is addressed for both existing and new customers to exchange their points of use for other benefits, ranging from top-up discounts to discount for non-mobile products purchase . To further encourage customers' engagement and to spend more on XL service, the company also forges partnership with various brands of retailers and streaming services, namely Zalora, Vidio and Catchplay to participate in the XL Poin rewards. (Source: Bisnis) Comment: Loyalty program and other customer rewards mark a shifting industry from acquisition-based to service-based to retain customers. This should be positive for the industry as companies are no longer expected to spend more on simcard production rather forge partnerships and use more creative marketing campaign. More importantly, this also helps providers avoid unnecessary and prolong price wars that may hurt its top and bottom-line.