Kohl's just launched a new rewards program that's all about earning Kohl's Cash. Here's what's changing for members.

  • Kohl's is rolling out its new Kohl's Rewards program nationally, the department store announced Tuesday.
  • The new program is centered on earning Kohl's Cash.
  • Members will earn 5% Kohl's Rewards on every purchase. Kohl's Rewards are then converted into Kohl's Cash. 
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Kohl's launched a simplified revamp of its popular loyalty program on Tuesday. 

The program, which was previously called Yes2You Rewards, will now be called Kohl's Rewards and centered around earning Kohl's Cash.  

"We will maximize value for our Kohl's customers nationwide with the launch of Kohl's Rewards by rewarding them with more Kohl's Cash every day," Greg Revelle, Kohl's chief marketing officer, said in a press release.

The program has been in test mode in 13 different markets but is now being rolled out nationally. All 30 million members of Yes2You will automatically be transferred into Kohl's Rewards. 

Here are the key points: 

  • Members will earn 5% Kohl's Rewards on every purchase. Kohl's Rewards are then converted into Kohl's Cash in $5 increments on the first day of the following month.
  • Reminders will alert members when they have Kohl's Cash to spend. 
  • Kohl's Cash coupons earned through the program are valid for 30 days. 
  • All Kohl's shoppers will continue to get $10 for every $50 spent during Kohl's Cash promotional events.  
  • Shoppers' Kohl's Cash balances will be printed on their receipt when they make a purchase.

In the company's quarterly earnings call in August, CEO Michelle Gass said loyalty was a "critical piece of the value equation" Kohl's offers its customers.

"We saw positive results in our pilot and are confident that this new program will further enhance our position as a leader in the industry," Gass said.

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