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Many Starbucks customers are irked by recent changes to its popular rewards program. But they may not have as much to complain about as it seems.
Artificially high and price gouging. >> meanwhile, best buy, starbucks and dunkin are changing their rewards programs. what's behind these changes? >> yes. inflation is also impacting rewards program. starbucks, best buy, dunkin are making it harder to earn those rewards. they're doing this to try to save money. starbucks and dunkin, you need to earn more points to get free coffee or other types of free drinks. best buy made the move where you now need to take out a best buy credit card if you want to earn rewards points. customers are furious. there's been huge backlash. here's one tweet. it'...
Inflation isn’t just hitting our wallets, it’s hitting major companies too.
Companies can't pass along these higher prices. you take a look at general merchandise sales last year. unit sales, which looks at the number of products shoppers bought down 7% and then dollar sales down 2% and that means customers are not buying as much and this is helping slow down inflation. >> interesting. all right. so this other trend, best buy, starbucks, dunkin', they're changing their rewards programs. why? and i can imagine some people aren't happy about that. >> keep your hands off my starbucks rewards points, christine. yeah. the so companies are changing their rewards programs an...
Inflation isn’t just hitting our wallets, it’s hitting major companies too.