Point Of Sale - Blog Posts

The Pathway for Retailers to Attain Better Customer Loyalty

Today, loyalty programs have become one of the most powerful arsenals used by global retailers to incentivize consumers, ensure repeat business, and subsequently increase ROI. Recent surveys indicated that over 62 percent of these retailers plan on revamping their loyalty offerings next year, while many others are already battle-ready with offers no shopper can ignore.

However, to have a successful loyalty program in place, it is vital that retailers need to understand customers’ behavior and preferences. A global study across retail and hotels published by Oracle Retail highlighted the fact that many organizations have the wrong idea about the end-users’ likes and dislikes.

For example, 58 percent of the retailers believed that consumers would sign up for every program they offered, but in reality, nearly 70 percent of the end-users limit their participation. This shows that organizations need to first understand the mindset that drives customer loyalty perceptions and then develop engaging programs accordingly.

Better Customer Loyalty for Retailers