It can be difficult for a retailer to stand out from the crowd and boost customer loyalty, as consumers have the advantage of shopping at an assortment of retailers. The good news is retailers can get the attention of consumers by implementing a creative and unique loyalty program as well as learning more about the benefits of a loyalty program.
Here are 15 notable statistics on the importance of loyalty programs for retailers:
- 64% of retailers feel that their loyalty program is the top way to connect with their consumers.
- The three main factors of brand loyalty are a good product, brand recognition, and trust.
- 48% of consumers feel that the most important moment for retailers to gain their loyalty is at their first purchase.
- 73% of smartphone users use their mobile device to interact with a loyalty program.
- Mobile offers are 10 times more likely to be redeemed than print offers.
- 4 % of consumers signed up for a loyalty program to save money, while 37.5% signed up to receive rewards.
- 79% of U.S. consumers “liked” a specific brand on Facebook just to receive future discounts or specials.
- Returning consumers spend approximately 67% more than first time consumers.
- 61% of small businesses stated that over half of their revenue originates from repeat consumers instead of new business.
- 63% of women and 53% of men stated they would stay longer with a brand if they earn rewards.
- 67% of consumers feel that surprise gifts are extremely important for a successful loyalty program.
- 50% of consumers altered their shopping behavior to obtain a higher level within a loyalty program.
- Over two-thirds of U.S. consumers switch brands because of price.
- The most successful digital scheme for building awareness is e-mail marketing.
- The top reason consumers will not join a loyalty program is due to fees.
Loyalty programs are a great way for retailers to customize the shopping experience while building a loyal base of consumers. By learning the benefits of what a loyalty program can offer, retailers can boost their overall business sales and extend a positive customer experience to their consumers.