Which retail loyalty program pioneered the concept of 'coalition loyalty' where customers could earn and redeem points across multiple retailers and was valued at over $2 billion before its major shift?

Customer loyalty programs have become a cornerstone of retail strategy, evolving from simple punch cards to sophisticated digital ecosystems. These programs not only drive repeat business but provide valuable customer data for personalization. One innovative loyalty program completely disrupted the industry and changed how retailers approach customer retention. Test your knowledge about this retail loyalty innovation that transformed the landscape.

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Air Miles (LoyaltyOne)
Plenti (American Express)
Nectar (Sainsbury's)
Payback (American Express)