The news: Dick’s Sporting Goods joined Amazon, Walmart, and Target in offering a paid membership program.

The details: The newly introduced paid tier of Dick’s ScoreCard loyalty program will cost shoppers $99 per year. In exchange, they will receive benefits worth at least $350 per year. That includes a guaranteed $100 in rewards—dispensed in $25 increments each quarter—as well as one free service or experience annually, unlimited free standard shipping, a 20% discount on in-store services and experiences, and other exclusive discounts.

Customers who sign up in July will also receive a $100 credit that can be used to purchase items from Dick’s private labels.

The rationale: Dick’s is testing whether the paid membership model can work for specialty retailers. While the company lacks the ability to offer fuel savings and other perks that would drive engagement, its decision to release loyalty rewards quarterly could help increase visit frequency and lifetime value. The prospect of receiving more in annual rewards than the program costs could also drive sign-ups, although interest is likely to be limited to Dick’s existing customers.

Implications for retail: Dick’s is the latest retailer to tinker with its loyalty program to deliver more value to shoppers. While it remains to be seen whether consumers will be willing to spend an extra $99 per year for additional perks—especially given the robust benefits available to free members—the program could prompt other specialty retailers to follow suit.

This content is part of EMARKETER’s subscription Briefings, where we pair daily updates with data and analysis from forecasts and research reports. Our Briefings prepare you to start your day informed, to provide critical insights in an important meeting, and to understand the context of what’s happening in your industry. Non-clients can click here to get a demo of our full platform and coverage.