Reitan Retail new co-owner in Spenn loyalty currency

Reitan Retail becomes one of three owners of Spenn. Together with founding companies Norwegian and Strawberry, Reitan Retail will continue developing Spenn into the largest loyalty currency in the Nordics.

Spenn will be owned equally by the three companies, and will offer an attractive combination of retail, air travel and accommodation. Surveys show that groceries, fuel and charging, air travel and accommodation are what most customers wish for in loyalty programmes.

“Reitan Retail is committed to creating the best customer experience in people’s everyday lives, at home and while travelling. We see great potential in connecting our own loyalty programme to a wider alliance, which will give our customers flexibility and more options than ever,” said Ole Robert Reitan, CEO of Reitan Retail.

Reitan Retail is a leading retail company in the Nordics and Baltics, with supermarkets, convenience stores and mobility brands. Every day, the company serves around 2 million customers through strong brands such as REMA 1000, Narvesen, 7-Eleven and Uno-X Mobility, in Norway.

“Our current loyalty programmes will continue, and Spenn will enhance them even further. The first step is to connect in the Norwegian market, and we have an ambition of getting the first brand connected around the turn of the new year. At a later point, we will introduce other countries and brands,” said Ole Robert Reitan.

The period leading up to the launch will focus on developing solutions that make it simple for Reitan Retail’s customers to earn and use Spenn.

Spenn was launched as a loyalty currency by Norwegian and Strawberry in November last year. The concept is to make it easier for members to earn and use Spenn across loyalty programmes, providing members with increased flexibility and faster earning of points.

“The ambition was always to create a loyalty currency that combines simplicity with choice. With Norwegian, Strawberry and Reitan Retail all using Spenn as their Nordic loyalty currency, we will deliver that simplicity and choice to our customers. With retail, air travel and accommodation as Spenn owners, we are creating a fantastic trifecta for our members, and we can’t wait to continue the development of Spenn together with Reitan Retail,” said Petter A. Stordalen, owner and founder of Strawberry.

Today, Spenn includes 100 brands across the Nordics. Customers can now earn Spenn with Villoid, Homely, Hurtigruten, Farmasiet, BliVakker, Samsung, and Adidas, among others.

“Since our first talks with Strawberry, the goal has been to develop a new loyalty currency that would create additional value for our members. Reitan Retail joining as a co-owner is a huge step towards that goal, improving both our own loyalty programme, Norwegian Reward, and the value of Spenn as a preferred loyalty currency. This will give all customers of Norwegian, Strawberry and Reitan Retail improved benefits in the future. We are very much looking forward to this,” said Geir Karlsen, CEO of Norwegian.