Retailers have been revamping their loyalty programs in recent years as they’ve realized that customer engagement can’t always be delivered by simple points, discounts and rewards. Best-in-class brands must deploy a holistic loyalty strategy that encompasses experience-based incentives, access to services that complement the product and a feeling of authenticity-driven community across channels.
It can be a tall order, but the rewards are significant; 60% of retailers report that loyalty members spend 2X to 3X more than non-members, a LoyaltyOne report said.
For the latest retail Hit List, Retail TouchPoints selected 10 retailers that have delivered creative, effective loyalty programs — ones that meet the retailers’ goals by providing the tangible (and intangible) rewards that members really value.
- The Body Shop;
- CVS;
- Loblaws;
- Lululemon athletica;
- Nordstrom;
- REI;
- Sephora;
- Starbucks;
- Vans; and
- Wayfair.
