Getting the most points out when buying alcohol: BWS versus Liquorland
If you want to buy some alcohol and your choice is between BWS and Liquorland, is one better than the other in terms of points and benefits earned? We'll assume for simplicity all things are equal: they have the same selections at the same price, and both are convenient for you to visit. In the real world, one may be cheaper than the other, or one may be more convenient. Don't forget to factor in travel time, and if you choose delivery, the amount this will add on. Also note we are comparing the two big outlets and other bottle shops may be cheaper, even taking into account these savings.

At both, you'll earn one Woolworths Rewards or Flybuys point per dollar spent. However, there is a trick that will put you ahead at BWS which will outweigh the benefits you get for either Flybuys or Woolworths Rewards. That trick is Cashrewards.

The triple-dip
The Cashrewards site will offer 5.6% cash back for purchases made at the online store of BWS (this percentage can change over time). Simply log into Cashrewards, or sign-up here with a free $5 credit new window, and search for BWS. Cashrewards is a site where they earn commission on sales directed through their site. The advantage for using them is they share some of that commission back with you. The prices you pay at BWS site are still the same if you go through by clicking Cashrewards.

BWS at the Cashrewards site
BWS at the Cashrewards site.

BWS also has a click and collect feature. You order online and you'll be texted when the order is ready to pick up from your designated store. If your plan is to visit the store anyway, click and collect makes little difference in terms of convenience and you can be sure that your items are in stock when you arrive. In some experiments we ran, the order was available within 30-60minutes, but this may vary during busy periods.

On top of the cashback, you can also earn Woolworths Rewards points to double dip the different programs. Add in a points earning credit card, and you've triple-dipped the process.

For example
You decide to buy two cases of beer at a total cost of $100.

BWS Online Price: $100
Cashrewards returns: $5.60
Net cost to you: $94.40
Points yield per net dollar spent*: 1.52
Woolworths Rewards points: 100, or 43.5 Qantas Points
Pay with points earning credit card (1 point per dollar): 100points
Total: $94.40, 144 points

*Assuming you are earning points on Woolworths Rewards, and a points earning credit card at the rate of 1 point per dollar. The yield rises slightly because you are paying $100 on your credit card, and $100 for rewards points. However since your net spend was $94.40 (you get cash back of $5.60), it raises the number of points per net dollar spent.

This saving is fairly significant over the course of a year and remember the savings are based on the price you were probably going to pay without Cashrewards. If you spend $50 a week on alcohol and follow the above, you will save $145.60 per year, and earn 3,731 frequent flyer points. Using one frequent flyer point being valued at one cent, it is almost four weeks of free alcohol per year ($182.91). For those who like to squeeze out every little drop, the $147.50 you get back into your bank account from Cashrewards can feed back into system. If you were to spend that $147.50 on alcohol as per above, you'd have $156.26 to spend at the online price and earn another 225 frequent flyer points.

As a final note, sometimes the items you want at Liquorland will be cheaper than BWS. Unless the difference is greater the current Cashrewards cashback rate, BWS is still the cheaper option. Also, it is worth checking online for other outlets that may be cheaper than either BWS or Liquorland. Dan Murphy's (which does not offer Woolworths Rewards depite being owned by Woolworths) can often be cheaper than both. In some areas, however, Dan Murphy's presence is not as strong as others. Independent bottle shops provide another alternative, but they may not have a full web site, making it more difficult to compare prices before heading in.