Kroger lets members redeem rewards points for grocery discounts

The Kroger Co. (NYSE: KR) announced that rewards program members can now redeem Points for dollars off groceries, in addition to the existing fuel discount option.

Under the updated program, members receive $1 off groceries for every 100 Points redeemed, up to $10 per day. The grocery redemption option is available in-store and online and requires members to log into their account and apply Points before checkout. The fuel discount rate remains at 10 cents per gallon for every 100 Points redeemed, up to $1 per gallon.

Points are earned at a rate of one Point per $1 spent on purchases made with a reward card in-store or through pickup and delivery. Kroger's paid Boost membership tier offers 2X Points on qualifying purchases, along with free delivery on orders of $35 or more.

"Whether they're saving up to $35 on their next fill-up or taking dollars off their grocery bill, customers can now choose the savings that matter most to them," said Megan Shaffer, group vice president of customer growth and strategy at Kroger.

Kroger is also offering limited-time 4X Points promotions on Fridays through July 24, on July 1 through July 4, and on Private Selection products through July 18 via a downloadable digital coupon. Offers vary by geography.

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