Rewarding loyal customers |
Written by Deonne Lindsey | |
Wednesday, 20 May 2015 04:35 PM America/New_York | |
Say thank you to your store’s repeat shoppers with instant gratification rewards and digital couponing The goal of every retailer is to see increased spending in their store. Customer retention also is critical to winning the day at retail. Could loyalty and reward programs be part of the answer to what increases shopper receipts and retains a store’s customers? When Amazon made the shift to a more robust—and more expensive—version of its Amazon Prime program in March 2014, the jury was still out on whether Prime would help the company garner greater customer loyalty and a bigger slice of the market. Now the online giant is touting the shift as one of the reasons for an increase in first-quarter profits. In fact, analysis by Chicago-based Consumer Intelligence Research Partners shows that Prime members are spending $1,500 a year while their non-Prime counterparts spend less than half of that figure at $625 per year. |
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