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Building a Better Loyalty Program (and the Reward for Getting It Right)

BlueOcean

Check your wallet (digital and/or physical) – do you have loyalty cards for your favorite retail outlets? Gas, grocery, fashion, technology… and probably more. loyalty programs on average. Ulta tells a similar story— 95% of their revenue comes from their loyalty program members.

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8 Retail Innovations Reshaping Your Shopping Experience

Oracle

What recent retail innovations have you seen that allow for a great shopping experience? We asked CX professionals that question, and they let us in on the most notable retail innovations they’ve recently experienced. Retail Innovation #1: IoT enhancements. Retail Innovation #2: Video review functionality.

Retail 85
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Supermarkets: How to Build a Winning Loyalty Program

Currency Alliance

One of the earliest loyalty programs came out of the grocery sector. Broadly speaking, most of the chains’ loyalty efforts have been in proprietary, albeit digitalized versions of the original S&H program: collecting in order to redeem for rewards, some digital couponing, and pushing out offers via a mobile app.

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Bank loyalty: stay top-of-wallet through the next decade

Currency Alliance

Back in 2017, when interchange fees were slashed by the European Union, most banks’ response was to simply to give up on their loyalty program; this was lazy and a huge strategic mistake. Every bank needs a loyalty strategy – even if they don’t have a points-based loyalty program.

Banking 52
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Innovators break the mould, at the 2020 Loyalty Magazine Awards

Currency Alliance

While travel and retail brands have made a lot of progress in the last 24 months, the bulk of innovation has come from other consumer sectors – including media businesses, entertainment, and telecoms providers, which in recent years appeared to regard loyalty as a lost cause. Hybrid points programs. A disloyal generation?

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Campaigns We Love: “Coach – Defining Modern Luxury”

Gravy Analytics

Coach’s new advertising campaign continues to evangelize its modern luxury leather goods to fashionable, younger buyers. In recent years, Coach acquired brands Stuart Weitzman and Kate Spade , expanding its reach in the luxury fashion market, and underscoring its focus on superior craftsmanship and innovative, thoughtful design.

Fashion 68
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Top 8 Ways in Which Metaverse Technology Has Transformed Businesses

CSM Magazine

Another example of how brands can generate additional revenue from embracing metaverse innovation is by attracting sponsors and investors via virtual events or concerts and charging attendance fees. Again, businesses can offer metaverse consultation services to others intending to embrace the innovation.