Embracing the Future of Retail Loyalty

GINA FLECK | July 11, 2019

article image
It’s no secret that the retail landscape is changing. With the rise of direct-to-consumer brands, widespread adoption of mobile and m-commerce, and the so-called “retail apocalypse,” retail’s status can only be described as complicated in 2019. As retailers evolve and adapt to this new normal, loyalty and rewards programs remain a mainstay tactic. Ubiquitous across big-box, supermarkets, department stores, and even mom-and-pop shops, you’d be hard-pressed to find a retailer that doesn’t offer some sort of rewards program to its customers. However, with such a significant presence, what was once a game-changing differentiator in driving shopper loyalty now has less of an impact. This is due in part to staleness in approaches, resulting in transactional experiences instead of balanced value exchanges. Consumer expectations are changing, and loyalty programs, in many cases, are falling behind.

Spotlight

Shop.co

A universal shopping cart browser extension that lets you buy any product, from any online retailer: no more registrations, checkouts, looking for your credit card, or losing your cart.

OTHER ARTICLES

Is It Too Early To Buy Retail Stocks?

Article | March 29, 2020

The coronavirus outbreak has been particularly lethal for the retail sector. The industry has been dealing with a variety of problems from store shutdowns to declines in tourism to a drop in demand for products considered non-essential. The SPDR S&P Retail ETF has fallen 25% this month, compared with a 14% decline for the S&P 500 Index. Before answering that question, we should take a look at the status of the current pandemic and its impact on the economy. Cases of COVID-19, the illness caused by the new coronavirus, have reached more than 600,000 worldwide. The U.S. now has the largest number of confirmed cases in the world, surpassing China and Italy. On a seasonally-adjusted basis, U.S. jobless claims surged to more than 3 million for the week ending March 21 a new record due to disruption from the outbreak, according to the U.S. Department of Labor.

Read More

How field research can help retailers reach untapped sales opportunities

Article | April 20, 2020

When you think of field research, you might think of an archeologist bent over a dig site investigating civilizations from the past, excavating the terrain and sifting out important artifacts. In marketing, field research is also about the study of the human experience and uncovering those important pieces of knowledge — but as they pertain to your business. Field research can give you insights into your customers' pain points, what they need to solve their problems, their thoughts on how your product helps or even what where they feel your services might be improved.

Read More

Grow your retail business with new customer trends

Article | April 7, 2020

Retailers know how important it is to drive customer engagement a business's success depends on customer retention, growth and ultimately sales. As an entrepreneur and the owner of retail jewelry brand Blossom Box Jewelry, I understand first-hand how important and often difficult it is to develop sales and marketing plans and strategies that will resonate with a target audience and provide a competitive advantage over other brands. With markets becoming increasingly saturated, it's crucial to create key differentiators for a business to remain successful. Throughout the year, I track customer e-commerce trends and online purchasing habits to identify ways to reach my customer base more effectively. That's the key to turning site browsers into paying customers: reaching shoppers the way they want to be reached, adapting business strategies to fit their needs, learning from their behaviors, and ultimately forming meaningful connections.

Read More

Factories shift operations in scramble to restock supermarket shelves

Article | March 16, 2020

With supermarkets stripped of food and many other essentials, consumer product companies halted factory runs of niche items such as scented bleach in order to speed up production of more basic merchandise that is in high demand. Brick-and-mortar retailers have warned that hoarding toilet paper, cleaning supplies and food staples was fueling shortages. Amazon.com (AMZN.O), the biggest online retailer, said it sold out of many household staples after orders spiked. As the fast-spreading coronavirus continues to alarm consumers across Europe and the United States, Trump held a phone call on Sunday with 30 executives from grocery stores including Amazon.com’s Whole Foods, Target Corp (TGT.N), Costco Wholesale Corp (COST.O) and Walmart Inc (WMT.N). Trump Administration official Larry Kudlow assured television news viewers that U.S. supply lines were “working pretty well.”

Read More

Spotlight

Shop.co

A universal shopping cart browser extension that lets you buy any product, from any online retailer: no more registrations, checkouts, looking for your credit card, or losing your cart.

Events