Retail industry is undergoing a massive transformation due to the changing consumer trends. The advancement in ecommerce has made retail more competitive, and retailers are geared towards bringing experience to the customers. As a result, loyalty becomes an important factor in the retail game.
For retailers, the primary benefit of Customer Loyalty is customer retention. Loyalty programs accomplish customer retention by rewarding loyal customers for their repeat purchase behaviors. Loyalty members spend 5-20% more on average than non-loyalty members. If customers are retained, retailers get huge ROI through incremental increases.
Retailers must integrate 'advocate loyalty', build lucrative campaigns, implement end-to-end marketing, and create omni-channel opportunities to engage customers.DOWNLOAD WHITE PAPER