Loyalty program in retail and gastronomy - Why?
Loyalty programs in retail and gastronomy are much more than just a gimmick. They are tangible tools that can have a positive impact on business development by strengthening customer loyalty and increasing revenues. Find out what benefits a loyalty program can have for your company.
“Customer is King” - and they like loyalty programs
The premise for your business to benefit from a loyalty program is that the program will be used. The numbers speak for themselves: consumers in Germany love loyalty programs. 72% of German consumers participate in at least one loyalty program. And not only that: out of two comparable stores, 61% of consumers choose the company that offers a loyalty program.So it’s really a good way to win new customers.
Once a customer takes part in your loyalty program, you will have measurable benefits: 83% of all consumers state that a loyalty program increases the likelihood of them visiting a certain business again. This is how you turn one-time buyers into regular customers! In addition, 49% of consumers say they will spend more money in a store after joining their loyalty program. A study by Accentureshows that this is not just the subjective perception of customers. It found that members of loyalty programs generate 12-18% more revenue than non-members. Customer loyalty tools like loyalty programs therefore offer clear financial advantages for your company. However, as you know, money is not everything...
Show your customers that you value them
Actual numbers are one thing, but there's much more to a loyalty program: Loyalty programs are also a great way to show your customers that you value them. For example, you can give your customers a treat with discounts and small gifts and thus reward them for their loyalty. After all, making customers happy is a goal that we all pursue regardless of increased sales, right?
The ideal loyalty program in retail and gastronomy
If you are convinced now that having a loyalty program in retail and gastronomy is a must, please read on. In our next blog post you will learn how a loyalty program has to be set up so that it brings you and your customers the greatest possible benefits and how we designed refive Rewards with this goal in mind. You can find all the benefits of refive Rewards here.