Based in Reading, Pennsylvania, Boscov’s is the largest family-owned department store chain in the U.S., operating 44 stores throughout seven mid-Atlantic states and an online store, providing a wide variety of brand-name apparel, footwear, cosmetics, jewelry and merchandise for the home.
Alliance Data’s industry-leading, data-driven marketing tools will deliver custom analytics and insights for Boscov’s, increasing cardmember engagement and generating incremental sales. Boscov’s will leverage Alliance Data’s MyLoyalty App capabilities to support individualized customer engagement and increase value to cardmembers. The MyLoyalty App will be customized for a brand-immersive experience giving customers the ability to apply, earn and connect with Boscov’s.
In addition, Alliance Data has signed an agreement to purchase the existing Boscov’s portfolio of private label credit card accounts, subject to customary closing conditions. The portfolio has a size of approximately $200 million. Alliance Data believes that the performance of the Boscov’s credit card portfolio, once acquired, will be consistent with its overall private-label credit card portfolio, and all new private label credit card accounts will be consistent with Alliance Data’s credit quality standards. Closing of the portfolio purchase is expected in Q1 2016.
Alliance Data will work with Boscov’s to enhance the card program’s features designed to recognize and reward cardmembers. The industry-leading value proposition will drive brand loyalty by rewarding cardmembers with benefits such as a first-purchase discount, exclusive savings and special events. Additionally, for every purchase through the multi-tiered Boscov’s B Rewarded program, consumers will be rewarded with rewards point certificates redeemable on future purchases.
