Now, custom-made loyalty drives retail

Global loyalty marketing agency, ICLP (A Collinson Group Company) revealed that the desire for innovative loyalty programmes is high on the agenda for consumers when considering their preferred retailers. This is particularly true of Millennials, with 46 per cent saying they would be encouraged to spend with a brand that has a loyalty programme. 

This compares with 39 per cent of those in Generation X, and 40 per cent of Baby Boomers, demonstrating that while there is plenty of appetite for loyalty programmes, brands must do more in order to continue to engage audiences. The study, commissioned by ICLP’s parent company Collinson Group, examined affluent consumers’ attitudes towards brand loyalty. 

Anurag Saxena, General Manager at ICLP: “Retail continues to evolve at a rapid rate, with brands both online and offline battling for loyalty in an increasingly crowded space. Gone are the days when a loyalty card alone would encourage consumers to choose a particular retailer above all others – the stakes are much higher now. Effective loyalty programmes need to recognise and cater to what customers value, such as being greeted by name when entering a store, personalised offers or VIP events, in order to drive brand engagement and devotion.”