Subscribe & Follow

Advertise your job vacancies

Research finds retailers must overhaul loyalty programmes

20 Aug 2007

Retail loyalty programmes are at a crossroads, according to a new Retail Systems Research report, Getting Loyalty Programmes Back to Loyalty. RSR's research confirms that retailers must transform their loyalty programmes from a pay-for-data scheme into something that captures the customer data they need, while still providing the kind of value to a customer that generates real loyalty.

"Having a loyalty programme is not enough to drive retail success," said Nikki Baird, Managing Director, and author of the report.

"Retailers need to execute their loyalty programmes well - by focusing on the customer insights a loyalty programme can generate, rather than just on the sales lift they expect to achieve. The retailers who are getting the most success out of their loyalty programmes today have centered their programmes squarely around the objective of capturing and using customer data to create a sense of customer intimacy and retail differentiation. Increased average transaction value is a consequence of customer data analysis, not a result of random price breaks."

The report identifies the internal obstacles retailers face as they seek to make the most of their loyalty programmes and the methods retail winners use to overcome those obstacles.

It highlights up-and-coming technologies needed to take best advantage of loyalty programmes and the customer data they generate, across the retail enterprise. Most importantly, it provides recommendations for how to transform a loyalty programme to take best advantage of this critical corporate asset.

Download a complimentary copy of the report here.

Source: eMediaWire.com