Rewards programmes are everywhere but are they actually building loyalty, or just training customers to wait for the next incentive? As Malaysian consumers juggle points, tiers, and perks, brands are starting to question what really keeps customers coming back.

Points still work in some contexts, but many rewards programmes quietly underperform. In this conversation, René Menezes, Leader at Kult, examines why rewards alone often fail to build connection, when experiential and tier-based models make sense, why “community” is easier to market than to meaningfully create, and what brands may need to stop doing if they want loyalty to mean more than repeat spend.