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· Posted on
February 21, 2024

Endeavour Group uncorks a 7% profit jump... and its Dan Murphy's loyalty program is intoxicatingly good

Endeavour saw its net profit jump 7% to $529 million, and its biggest winner is Dan Murphy's loyalty program.

What's the key learning?

  • The MyDan's membership base grew nearly 16% to over 5 million members.
  • Many rewards programs lure customers with points, discounts, or exclusive access, but sometimes the beauty of a membership program is in its simplicity.
  • 80% of Dan Murphy's purchases with a MyDan's card comprised 90% of the store sales.

👉 Background: Endeavour Group is the major player in Australia's liquor and pub scene. Previously, they were owned by the Woolworths Group, but a business dedicated to alcohol and gambling wasn't so aligned with the Woolies ethos. They listed Endeavour Group in 2021 and hold less than 10% of the shares.

👉 What happened: Now, Endeavour has released their annual results and saw its net profit jump 7% to $529 million. And its most intoxicating results actually came from quality wines and champagne.

👉 What else: But the biggest and best winner? Dan Murphy's and its loyalty program. The MyDan's membership base grew nearly 16% to over 5 million members.

What's the key learning?

💡Sometimes the beauty of a membership program can be in its simplicity.

💡We've seen many rewards programs that lure customers with:

  • A points system
  • Discounts on other companies' products
  • Exclusive access to special events that nobody actually wants to attend.

Endeavour Group is showing that simplicity can be far more appealing.

💡Nearly 80% of all Dan Murphy's purchases in FY23 were with a MyDan's card. And these 80% of purchases led to a thirst-quenching 90% of the store sales.

‍

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