88% of executives claim that an important component of the overall company strategy is, in fact, the loyalty program.
The Customer Loyalty business is massive, and it is going to continue to grow.
According to the new research report “Loyalty Big Picture”, from global loyalty expert LoyaltyOne, 69 percent of C-suite executives reported that they’ve increased loyalty investment in the past two years, with more than half (55 percent) saying their investments will continue to grow over the next two years. *
Despite the public perception that loyalty cards’ usage might be declining, the contrary is true – the usage and popularity is growing extensively.
The vendors have realized the importance of customer data, and how to use it for their profit. When vendors know what their customer buy according to their loyalty programs, they can optimize their business according to those purchases.
The story doesn’t end there, namely a great majority of executives (88%*) claim that an important component of the overall company strategy is, in fact, the loyalty program. On one hand, it brings profit to the vendors and on the other hand, it gives customers a valuable customer experience, offering them exactly those products that they want, and more importantly for a better price. Because of that, the overall customer satisfaction grows and leads them back to your shop.
In the end, the market is shaped by the demand – the customer and its preferences.
Learn more about how your company can profit from our asw:loyalty.