How many retail loyalty cards do you have? Personally, I’ve only been loyal to one programme consistently over the past 10+ years (Boots Advantage Card, fantastic points system!) while the ‘new kids on the block’ in my purse include Waitrose and John Lewis but beyond that… well, I either lose or forget about them. I was ever-so-slightly put to shame when a friend of mine used his mobile loyalty app recently while in a coffee shop… note to self!
During his recent visit to the UK, we spoke to Eric Thorsen, vice president of industry solutions and retail, about how loyalty cards are evolving.
So, are loyalty cards still relevant? The short answer is yes. Loyalty is as important for retailers (perhaps other than high-discount stores) as revenue and margins. Having insight into customer loyalty is critical to tracking sales as well as managing and driving demand.
In the short video below, Eric talks about how loyalty is very much alive, well and flourishing but unsurprisingly, the way in which it’s tracked and communicated is very much beyond the traditional loyalty card. While you watch it, I’m off to find my favourite retailers in the app store…!