Or their mindset is more on merchandising their site or store. Though there are a lot of advantages a premium loyalty program offers to retailers, they are not equipped to handle the subscription and billing management component of it as many of them are used to the traditional loyalty programs. It’s a win-win situation for both parties. While customers join premium loyalty programs to access exclusive benefits, the retailers benefit from the premium loyalty program with an additional revenue stream that the membership fees generate and see an increase in order frequency, customer engagement, and brand advocacy. And retail giants such as Amazon and Walmart witnessed the customer attitude toward traditional loyalty programs and brought fee-based premium loyalty programs into practice, where the customers can access exclusive benefits immediately without having to make purchases over time for discounts later. These programs consume a lot of time to rack up points after transactions and generate benefits. On the other hand, traditional loyalty programs make customers transact first to receive benefits later. Tom Caporaso, CEO of Clarus Modern-day consumers no longer want to wait to receive benefits from loyalty programs.
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