Which company lost approximately $1.5 billion in market value in 2020 after a disastrous revamp of their loyalty program that sparked widespread customer outrage?

Loyalty programs have become crucial tools for customer retention across industries, with companies investing billions in these systems. But not all loyalty revamps go as planned. This trivia question highlights one of the most notorious loyalty program failures in business history, where a company's attempt to modernize their program resulted in massive customer backlash and significant financial losses. Test your knowledge about this infamous case study in customer loyalty management!

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Starbucks (Stars Rewards redesign)
Air Canada (Aeroplan transition)
J.C. Penney (rewards program elimination)
American Airlines (AAdvantage dynamic pricing model)