From stockholder to customer : Marks & Spencer proposes “our shareholders the opportunity to use some or all of their dividend payment to purchase credit on an ‘M&S Shareholder Card’ at a 10% discount” ; read more here
On principle, a dividend is a long term reward; here we have a kind of extended and optimised “loyalty” version, where earnings are converted into purchases; the engagement is to the company (share+dividend), then to the brand (credit).
In another way, John Lewis proposes to obtain vouchers and fidelity points thanks to a partnership (payment) card; read more here
Those “loyalty” systems can be achieved in specific scale and company structure : shareholding, partnership, agreements with payment institutions … so eligible for department stores or supermarkets.
A quick overview on Unibail-Rodamco, Klépierre, Westfield, Simon, Apsys websites : nothing equivalent, only prepaid gift cards; loyalty, offers, vouchers are mainly “hold” by brands, not shopping centres… for now.
– “Marks & Spencer pays dividends through “customer discount card” – Retail Detail – 10 March 2015 – Pdf
– Marks & Spencer, John Lewis