Take an electronics product, add the maximimum recommended retail price found anywhere in Australia, give the frequent flyer a discount of around 5% in exchange for frequent flyer points that would have cost them 3 times as much in real dollars and make them pay the other 95% in cold hard cash. That's how the Qantas product rewards system really works.
There isn't even an option for frequent flyers with huge points to simply use those points to purchase the products outright. Basically Qantas have set up a 'rewards' store, are making a tidy profit out of the sale of the products on it AND still managing to diminish their members points at the same time. In most cases they are actually making more than retail chains selling the same products...talk about a rip-off for supposed loyal customers! Compare it to any other credit card reward scheme that entitles users to use 100% points to acquire products or gift cards for, say, David Jones, and you fast realise you could have got 3 products for the price of one on the Qantas system. Good one Qantas...rip of your most loyal customer base....that'll REALLY help your market share!
There isn't even an option for frequent flyers with huge points to simply use those points to purchase the products outright. Basically Qantas have set up a 'rewards' store, are making a tidy profit out of the sale of the products on it AND still managing to diminish their members points at the same time. In most cases they are actually making more than retail chains selling the same products...talk about a rip-off for supposed loyal customers! Compare it to any other credit card reward scheme that entitles users to use 100% points to acquire products or gift cards for, say, David Jones, and you fast realise you could have got 3 products for the price of one on the Qantas system. Good one Qantas...rip of your most loyal customer base....that'll REALLY help your market share!