Swipe & Save: Improving Supermarket Loyalty Programs
Supermarket loyalty programs are the foundation of all knowledge. Gone are the little stamp booklets of yesteryear. With data-driven grocery retail operations, supermarket loyalty programs have taken on a whole new meaning, and customers want value in exchange for their personal information required for membership. Swipe and Save incentives have proven to be the market leader in loyalty program membership.
Retail Brand Loyalty
In recent consumer studies of supermarket rewards programs, findings indicate that an average 12 loyalty programs per household are used on a regular basis, with each holding about 29 loyalty program memberships in total across retail and services segments. The truth is, customers already have established emotional connections with specific brands and retailers. It is not uncommon for under 15 percent of loyal customers to provide up to two-thirds of a company’s sales. Some studies indicate that the correlation of loyalty to revenues at a single retailer may even be higher, at up to 95 percent of total sales performance.
Product Brand Loyalty
Companies are now looking for more masterful ways of integrating value, capturing the attention of customers who demand more exclusivity and personalization in their shopping engagement. Branding has a lot to do with strategic omnichannel operations success. How often customer identification with advertised brand promotions online and in other marketing collateral converts to point-of-sale revenues for a retailer can have a major impact on sales performance. Brands offering incentives to consumers are aware that retail customers will buy more of those items or even switch stores to take advantage of those promotions. Retailers can capitalize on this tendency; if not, they may perish.
Swipe and Save Programs
The innovation of swipe and save incentive programs for loyal customers is a serious boon for grocery and other retail operations seeking a simple solution to multi-scale benefits and promotional marketing features. Participating consumers overwhelmingly report that swipe and save incentives are the most reasonable choice for retailers. It helps create an ongoing loyalty relationship. Once card credentials are linked to a customer’s phone number, email, and online profile, even more discounts and offers are at their fingertips.
Points accrual plans provide access to member-exclusive deals and digital coupons acknowledged online, in-store, or via smartphone scanning. With so much available in the way of incentives, retail customers can get more value for money on regular and special purchases than ever before. The swipe and save alternative to coupon clipping has been an extraordinary transformation for retailers and product brands partnered in managing promotional advertising campaign events. Digital marketing channels supply the links, and the rest is up to retailers to advertise those savings to their customers.
The Future of Loyalty Programs
Innovations in POS transaction technologies have promoted swipe and save incentive programs designed to enhance customer access to benefits, and boost retailer marketing and sales performance. Retaining customer loyalty has always been a challenge. Amid the ever-changing landscape of retail strategy, swipe and save programs are here to stay.