112. Loblaw's VP and GM of Loyalty, Noah Goldberg: “The best loyalty programs don’t reward spend. They reward behavior.”

Everyone has a loyalty program, but very few brands actually create loyalty. In this episode of OFFBounds, Paula Macaggi sits down with Noah Goldberg from Loblaw Companies Limited to unpack what it really takes to build one of the most widely used programs in the world. As the leader behind PC Optimum, with nearly 16 million members, Noah shares how loyalty operates at scale and why it goes far beyond points and discounts.

The conversation explores the shift from rewarding transactions to rewarding engagement, and how digital behavior has become the foundation of modern loyalty programs. It also dives into the complexity behind creating a simple customer experience, the role of first-party data and retail media, and how AI will change the way customers interact with loyalty in the future.