Research Finds Retailers Must Overhaul Loyalty Programs
A new report, Getting Loyalty Programs Back to Loyalty, published by Retail Systems Research, confirms that retailers must transform their loyalty programs from a pay-for-data scheme into something that leverages customer data to provide value to consumers. The report highlights up and coming technologies needed to take best advantage of loyalty programs and the customer data they generate, across the retail enterprise.
Miami, FL (PRWEB) August 20, 2007 -- Retail loyalty programs are at a crossroads, according to a new RSR Research report, Getting Loyalty Programs Back to Loyalty. RSR's research confirms that retailers must transform their loyalty programs from a pay-for-data scheme into something that captures the customer data they need, while still providing the kind of value to a customer that generates real loyalty.
"Having a loyalty program is not enough to drive retail success," said Nikki Baird, Managing Director, and author of the report. "Retailers need to execute their loyalty programs well -- by focusing on the customer insights a loyalty program can generate, rather than just on the sales lift they expect to achieve. The retailers who are getting the most success out of their loyalty programs today have centered their programs squarely around the objective of capturing and using customer data to create a sense of customer intimacy and retail differentiation. Increased average transaction value is a consequence of customer data analysis, not a result of random price breaks."
RSR's new publication Getting Loyalty Programs Back to Loyalty, identifies the internal obstacles retailers face as they seek to make the most of their loyalty programs and the methods retail winners use to overcome those obstacles.
The report highlights up and coming technologies needed to take best advantage of loyalty programs and the customer data they generate, across the retail enterprise. Most importantly, it provides recommendations for how to transform a loyalty program to take best advantage of this critical corporate asset.
To obtain a complimentary copy of the report, follow this link: Download the Loyalty report
About Retail Systems Research:
Retail Systems Research ("RSR") is the only research company run by retailers for the retail industry. RSR provides insight into business and technology challenges facing the extended retail industry, and thought leadership and advice on navigating these challenges for specific companies and the industry at large. To learn more about RSR, visit rsrresearch.com.
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