Coles Flybuys Collect for Christmas Launches September 14 with Up to $400 Off

Coles launched its Collect for Christmas program on September 14, letting Flybuys members bank points for redemption up to A$400 off a single transaction between December 11 and Christmas Eve. Members must opt in through the Flybuys app by September 27 to participate. The scheme includes a new 10x points multiplier on eligible Coles and Liquorland purchases, marking the first year customers can use saved points at Liquorland. In 2025, members redeemed more than A$20 million worth of points over the festive period.

How the Collect for Christmas program works

Flybuys members who opt in by September 27 can accumulate points across the next three months at a faster rate. Coles is offering 10x points on the next eligible shop at both Coles and Liquorland for launch. Members can then redeem their saved points between December 11 and Christmas Eve, with the new cap of A$400 per transaction, up from the usual A$100 limit. Last year, members who opted in earned an average of A$140 leading up to Christmas.

New features and expanded redemption options

This year’s campaign introduces tracking tools so customers can monitor their savings from the moment they opt in. Members can also opt out at any time and access exclusive basket and category offers designed to build points faster. For the first time, Flybuys members can redeem their Christmas points at Liquorland outlets, expanding beyond Coles supermarkets. Coles research shows more than half its customers are using points and loyalty programs to save on weekly shops as households adjust spending.

Expert warning on overspending risk

Money expert Effie Zahos warned that the main risk is spending big to save little. Zahos explained that earning significant savings requires taking advantage of bonus offers rather than relying on the base rate of one point per dollar spent. She cautioned that bonus points can tempt shoppers to buy extras they don’t need or ignore cheaper options at competitors like Aldi or IGA. Coles research shows more than half of customers are using points and loyalty programs to help save on weekly shops as households look for ways to make every dollar go further.

Coles stock position amid retail competition

Coles (COL.AX) trades at A$23.59, up 1.55% on the day. Meyka rates the stock a B with a neutral recommendation, citing weak valuation metrics including a PE ratio of 30.25 and debt-to-equity of 2.51. The 12-month price forecast sits at A$22.90, suggesting limited upside. The retailer is competing with Woolworths, which runs a year-round Bank for Christmas program, as both chains battle for festive spending ahead of the peak December shopping season.

Final Thoughts

Coles Flybuys Collect for Christmas offers genuine savings for disciplined shoppers, but the A$400 cap and bonus point structure reward higher spending. With Meyka grading COL.AX a B and forecasting A$22.90 over 12 months, the stock reflects a mature, competitive retail market where loyalty programs are table stakes, not growth drivers.

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The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.