JCPenney to give half a BILLION dollars back to customers through revamped loyalty program - here's how YOU can sign up

JCPenney is aiming to give half a billion dollars back to its customers through a revamped loyalty program.

The struggling department store follows in the footsteps of Target and Walmart which are focusing on membership schemes to entice and retain customers. 

Its new free scheme is a simplified version of its existing one and will effectively double the rate at which members can earn points. 

The move forms part of JCPenney's transformation strategy which is seeing the retailer invest $1 billion into improving customer experience and operational efficiencies. 

JCPenney is aiming to give half a billion dollars back to its customers through a revamped loyalty program

The move forms part of JCPenney's transformation strategy which is seeing the retailer invest $1 billion into improving customer experience and operational efficiencies. Pictured: CEO Marc Rosen

Under new rules, customers will earn one CashPass point for every $1 they spend. They will also receive a $10 CashPass reward when they hit 200 points or on their birthday.

Those with a JCPenney card will be offered a better rate of 1.5 points for every $1 spent. Customers can find out more about how to sign up on JCPenney's website.

JCPenney currently boasts more than 20 million rewards members who shop there on average five times a year, the company said, adding it expects to deliver up to $500 million in rewards.

Katie Mullen, chief customer officer at the retailer, said in a statement: 'We want every trip to JCPenney to be worth it.

'Enhancing our rewards program is an important piece of how we bring value to our customers... We want to continue to earn the loyalty of America's diverse working families.'

JCPenney joins a growing list of retailers beefing up their loyalty programs amidst a widespread 'retail apocalypse.'

The struggling department store follows in the footsteps of Target and Walmart which are focusing on membership schemes to entice and retain customers

Total closures were 5,463 in 2023, a 30 percent increase on 2022

Earlier this month Target launched its new Circle 360 paid-for membership which offers same-day deliveries, two-day shipping and no-rush returns. 

Customers who sign up before May 18 can expect a first-year subscription for $49. 

Similarly, Walmart recently launched its Walmart+ rewards program which allows customers to win back points on certain grocery items. 

Bricks-and-mortar stores are grappling with falling footfall, rampant inflation and rising levels of theft. 

Last year, US retailers shut a total almost 5,500 stores, with Walgreens and Rite Aid driving the trend.