Loyalty in retail has been associated with discounts, offers and rewards; largely offered indiscriminately to all customers irrespective of their tenure as customers. At least in India we are yet to see a robust loyalty program being rolled out which focuses on customer as an Individual and not a group.
Shoppers Stop used to run a preview sales for its privileged customer before sales season however of late not seen a lot of activity. Also the loyalty rewards exists with respect to only the purchases that have been done by customers and not other modes that he might take (like product reviews, experience sharing etc.).
There is a blank space in loyalty where the customers can be given extra privileges based on his activity. As an example in case on ecommerce loyalty can be judged based on references through product reviews, engagement through social channels for sales assistance or sharing his experience through his social profile. While in case of offline the loyalty can be based on his past purchase patterns, access to custom in-store offers and Omni channel coverage.
An opportunity exists for retailers to engage with their customers for repeat purchases through a dynamic strategy after all one size does not fit all.
Shoppers Stop used to run a preview sales for its privileged customer before sales season however of late not seen a lot of activity. Also the loyalty rewards exists with respect to only the purchases that have been done by customers and not other modes that he might take (like product reviews, experience sharing etc.).
There is a blank space in loyalty where the customers can be given extra privileges based on his activity. As an example in case on ecommerce loyalty can be judged based on references through product reviews, engagement through social channels for sales assistance or sharing his experience through his social profile. While in case of offline the loyalty can be based on his past purchase patterns, access to custom in-store offers and Omni channel coverage.
An opportunity exists for retailers to engage with their customers for repeat purchases through a dynamic strategy after all one size does not fit all.
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