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Simon® Debuts Simon+™: A New Loyalty Program Connecting Retailers and Shoppers

1. Simon launches Simon+, an omnichannel loyalty program for shoppers. 2. Rewards include cash back, points, and exclusive offers from retailers. 3. The program enhances shopping experiences both online and in-person. 4. Over 500 retailers are participating, boosting traffic and sales. 5. Simon+ aims to drive customer engagement and gather data for improvements.

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FAQ

Why Bullish?

The introduction of Simon+ is likely to increase foot traffic and sales, similar to past successful loyalty programs. Historical examples show that successful loyalty initiatives contribute positively to operational metrics and stock performance.

How important is it?

The loyalty program aligns with current consumer trends favoring digital engagement and rewards, critical for SPG's market positioning. High participation could significantly enhance SPG's sales metrics.

Why Long Term?

While immediate sales boosts may occur, the long-term impact comes from established customer loyalty and continued program evolution. Previous instances, like Starbucks' loyalty program, demonstrate sustained revenue growth over years.

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New omnichannel loyalty program from Simon ® meets the needs of today's modern shopper while unlocking powerful engagement opportunities for retailers , /PRNewswire/ -- Simon®, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, today announced the launch of Simon+™, a new loyalty program that rewards members with cash back, points and perks for shopping nationwide at Simon Malls ® and Premium Outlets® and online at ShopSimon.com™ or the ShopSimon app. Simon+ Simon+ Simon+ Simon+ Simon+ Simon+ is designed for today's omnichannel shopper, delivering rewards whether they shop in a Simon center, online at Simon's digital marketplace, ShopSimon.com, or through links to participating retailer websites. With a simple, always-on platform, members can access exclusive offers, receive cash back and points for qualifying in-store and online purchases and unlock curated rewards – including incentives from participating retailers, perks like valet parking, Santa photos and discounts on ShopSimon.com. "Simon+ is the future of shopping rewards – and there's truly nothing else like it," said Lee Sterling, Chief Marketing Officer of Simon. "As we continue to merge the best of in-store and online experiences and make shopping more convenient, Simon+ engages customers where they are and creates more reasons to shop, stay and return." Simon+ marks the next innovation of Simon's omnichannel strategy. Today's shoppers are shopping both in-person and online, and Simon+ is designed to make that even easier and more rewarding. The experience works in harmony with ShopSimon.com – the mall that never closes - and Simon Search®, which allows customers to search for more than 3 million products available in-store and online at Simon.com, ShopSimon.com, and our mobile apps.With over five hundred retailers nationwide already participating in Simon+ including adidas, H&M, JD Sports, Shake Shack, True Religion, UNTUCKit, and Warby Parker, Simon+ offers brands a powerful new way to enhance their own loyalty efforts. There is no cost to participate, and Simon+ complements retailers' current programs by reaching high-intent shoppers, encouraging cross-shopping between brands, driving traffic and sales conversion both in-store and online, and providing key data and metrics to help inform future marketing strategies."We are committed to helping our participating retailers connect with more consumers - and this is just the beginning," said Sterling. "Simon+ will continue to evolve, introducing new features and capabilities that respond to retailers' needs while also providing powerful data-drivenopportunities to expand their reach through Simon's physical and digital channels. Additionally, we will actively gather feedback and insights from our shoppers and build upon the program's offers and rewards to deliver even greater value and deeper engagement."Simon+ is provided to shoppers at no additional cost and features an intuitive dashboard where members can discover offers, track rewards, upload receipts, link payment cards for points, and activate cash back opportunities both in-store and online. Members can redeem points for retailer rewards or ShopSimon.com credit and get bonus points by completing tasks like surveys or signing up for text alerts. As the next generation of Simon's loyalty program, Simon+ replaces existing programs including Mall Insider®, VIP Shopper Club®, and ShopSimon™ Rewards, and builds on Simon's commitment to deliver meaningful customer experiences.With billions of annual shopper visits to its 200+ premium retail destinations, 150+ million annual website visits and more than 3,000 engaged retailers, Simon+ is uniquely positioned to lead multi-brand, omnichannel loyalty innovation. About Simon Simon® is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group) (NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.SOURCE Simon

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