Retailers are looking at loyalty differently these days. They’re re-examining their entire approach to loyalty programs as a whole, including the concept of rewarding customers based on frequency and value of purchases, and plastic loyalty cards are on the wane. This study by Newstore reveals how to drive personalization and engagement both online and in-store.
The risk of brand degradation is nothing new (fake Coach purse, anyone?). But brand degradation against price transparency, access to goods, manufacturing capabilities, dissolving of geographical boundaries and shipping innovations, and you’ll see the risk has increased dramatically. Here is what you should do as brand degradation gets worse.
A recent study by RetailMeNot predicted that consumer spending is expected to increase between Black Friday and Cyber Monday compared to last year, and advised retailers to plan their kickoff promotions around a longer period than the traditional Cyber Weekend. Here are some other statistics the study revealed for the holiday season.
Holiday shopping continues to increase year-over-year. In fact, the National Retail Federation reported that holiday sales are expected to increase 4% this holiday season to $682 billion. See where shoppers are finding the information they need to start their holiday shopping and what their preferences are.