1h Free Analyst TimeRetailer Loyalty Schemes
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"Retailer Loyalty Schemes", report provides an overview of different types of loyalty programs, their need in retail industry, benefits and examples of loyalty programs.
- Loyalty programs are marketing strategies that, when effective, drive customer loyalty and encourage frequent purchases through providing enticing incentives and reasons to purchase.
- These programs are designed to reduce shopping around and make a retailer top-of-mind - motivating return visits and limiting customer acquisition opportunities for competitors.
- As part of these programs, customers are generally rewarded with special offers, discounts, points, rebates, exclusive services or free gifts.
Reasons to buy
- The effectiveness of loyalty programs is vital as sales growth opportunities, especially in mature retail markets, become more challenging
- Retailers must ensure their loyalty schemes are built into their apps
- Carrefour’s “MyCLUB” aims to leverage the fast-growing retail market in Middle East
- Boots Advantage card gets the basics right
- Madewell’s Insider loyalty program aims at gaining and retaining customer loyalty
- Best Buy’s loyalty program lacks a competitive edge versus Amazon
- The North Face loyalty scheme is designed to appeal to its customers’ passions
- Sephora is building on its “Beauty Insider” loyalty program to drive business
- Starbucks doubled its loyalty program members during 2017-2018.
Table of ContentsLoyalty programs - Overview
Types of loyalty programs
Benefits of loyalty programs
Examples - Reward points
Examples - Multi-level reward points
Examples - Paid subscriptions
Examples - Partnerships
A selection of companies mentioned in this report includes:
- Best Buy’s
- North Face
- Barnes & Noble