In a strategic effort to reconnect with younger consumers, Myer is expanding its Myer One program through a new partnership with JD Sports, a retailer known for its appeal to youth through its sportswear and streetwear offerings. With more than 4.7 million active members, Myer One is being positioned as a key driver of customer engagement and revenue, though its success hinges on appealing to a younger audience while maintaining profit margins.
A central focus of this strategy is to diversify and modernise Myer's customer base. Currently, customers under the age of 30 account for just 20% of Myer's sales, despite being a core group for emerging trends in retail fashion. Under the new agreement, Myer One members can now earn and redeem points at JD Sports' 67 Australian stores. Customers earn two points for every dollar spent, making the program more attractive and relevant to younger shoppers.
JD Sports posted $703.7 million in sales for the year ending 1 February, an increase from $669 million the previous year, demonstrating strong growth. While JD Sports earns less in total revenue than Myer, which brought in $3 billion, it is more profitable, recording $46.2 million in profit compared to Myer’s $36.8 million. This difference highlights how younger shoppers are driving profit in other retail sectors, and why Myer is eager to reach them through carefully chosen brand partnerships.
By opening Myer One to brands with high youth engagement such as JD Sports, Myer is positioning the program as more than just a rewards scheme. It aims to become a dynamic customer platform that drives long-term value. However, expanding the network of retail partners carries risks, especially if Myer's current customer base does not adapt or if younger shoppers fail to convert into consistent sales growth. Myer has also formed alliances with partners including Virgin Australia's Velocity and major financial service brands to further enhance the program's reach.
