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Wednesday, December 24, 2008

Retail Loyalty Programs Simplified for 2009

In these challenging times, retailers face these key issues that are critical for long term growth and actual survival: -Building traffic in a weak economy -Converting as many walk in customers to buyers -Building the average sale -Building loyalty and repeat visits by customers In the early 1990's Loyalty Programs were the latest rage. Every retailer jumped on the bandwagon and offer an array of programs making customer wallets and purses bulge with slick plastic loyalty program cards. By the late 1990's, the glamour of many of these Loyalty Programs fizzled. Customers balked at the complexity of many programs and their bulging wallets full of these cards and opted out of most of them. Beyond that, many were designed to deliver mediocre rewards after a long drawn out purchasing timeline by customers. Today, customers want earlier gratification and simplicity. They don't want all those loyalty cards weighing them down either. The best Loyalty Program can be set up very easily with a high acceptance level from today's customer: Offer a percentage discount coupon with every purchase. You can also add an expiry date if you want a customer to return within say 30 days of their original purchase. Read More>>