RetailWhy retailers must reward loyalty to stay profitable

Why retailers must reward loyalty to stay profitable

Survey of 1500 shoppers reveals why ‘loyalty’ is going to be the differentiator for retailers amid the cost of living crisis.

  • 4 in 5 are part of at least one customer reward scheme
  • 38% actively seek them out and 46% will join up when asked
  • 70% are willing to sign up just to receive discounts
  • BUT, 19% have never been asked to join whilst shopping in a store

As retailers struggle to stay profitable, whilst protecting customers from price hikes, the survey carried out by consumer intelligence experts at Manchester-based Purple found it doesn’t have to be a trade-off between the two.

Two thirds of the respondents said their loyalty to a retailer increases when they’re rewarded for visiting, however, the survey shows that retailers are missing out on an important opportunity to reward loyalty in-store, at a time when it matters the most.

Smart in-store WiFi can be easily utilised by retailers to encourage sign-ups to loyalty schemes and 66% of respondents have joined a free WiFi network when shopping. But the survey found just 16% join every time they shop, and here lies the opportunity.

What’s more, 41% of those surveyed believe that receiving text messages and emails while in store – with information and offers for specific products – helps to improve the customer experience.

Almost half claim promotions or a personalised experience influenced their most recent purchase and 83% are happy to share personal data in exchange for tailored offers.

Gavin Wheeldon, Chief Executive of Purple, commented: “The current economic climate is increasing the pressure on businesses and retailers should be looking to harness the full capabilities of their existing technology to compete with the competition.

“Whilst there isn’t ‘one size fits all’ solution, in-store WiFi technology can help retailers to facilitate real-time dialogue with the customer.”

Purple’s smart WiFi technology can collect real-time data using a captive portal for shoppers to log into the WiFi, using their email address or social media profile.

Furthermore, retailers can trigger communication with their customers directly through the Purple Platform, using a built-in marketing automation tool – or an existing CRM system.

Wheeldon continues: “When a retailer knows their customer is actively shopping in their store, they can access valuable data in an instant to leverage the personalisation consumers desire and enhance the overall shopping experience.”

News Desk
News Deskhttps://www.businessmanchester.co.uk/
The Business Manchester News Desk team is a collective of experienced journalists and editors dedicated to delivering comprehensive business news and insights from the Manchester area and beyond. With a strong background in finance, technology, property, and innovation, our team ensures that our readers stay well-informed about the latest trends and developments in the business world. Through in-depth reports and insightful analysis, the Business Manchester News Desk team is committed to providing high-quality journalism to its audience.
Latest

Fake ‘luxury’ goods worth £3 million found in trading standards raid

More than 5,000 fake luxury goods worth £3.1 million have been uncovered in Bury by trading standards officers. The huge haul was discovered in raids...

Mum’s the word… thank her with a lovely gift this Mother’s Day

Mums are brilliant… and also brilliantly awkward to buy for. Ask them what they want for Mother’s Day and you’ll usually get something like “Oh,...

Algeos introduces Interpod Orthotic Library for clinicians across the UK

Orthotics supplier Algeos has announced the UK release of the new Interpod Orthotic Library, a clinically organised reference designed to assist healthcare professionals in...

How Manchester SMEs can sign a PDF online securely and efficiently

Paper-based document workflows still remain common in many Manchester businesses, even as remote and hybrid working become standard practice. Contracts often wait for physical...
Subscribe to our newsletter
Business Manchester will use the information you provide on this form to be in touch with you and to provide updates and marketing.
Don't miss

Fake ‘luxury’ goods worth £3 million found in trading standards raid

More than 5,000 fake luxury goods worth £3.1 million have been uncovered in Bury by trading standards officers. The huge haul was discovered in raids...

Progressive Leadership Festival to debut in May with focus on purpose-driven business

A new gathering aimed at redefining the role of business in society will take place this spring as the Progressive Leadership Festival makes its...

Mum’s the word… thank her with a lovely gift this Mother’s Day

Mums are brilliant… and also brilliantly awkward to buy for. Ask them what they want for Mother’s Day and you’ll usually get something like “Oh,...

Algeos introduces Interpod Orthotic Library for clinicians across the UK

Orthotics supplier Algeos has announced the UK release of the new Interpod Orthotic Library, a clinically organised reference designed to assist healthcare professionals in...

More News

Mum’s the word… thank her with a lovely gift this Mother’s Day

Mums are brilliant… and also brilliantly awkward to buy for. Ask them what they want for Mother’s Day and you’ll usually get something like “Oh,...

How struggling hospitality businesses can pivot into food brand start-ups

Matt Harris’s career journey has had its fair share of pit stops and twists and turns. From race-track engineering to a street-food ambulance to supermarket...

Arighi Bianchi launches its biggest ever Winter sale

Arighi Bianchi’s biggest-ever Winter Sale is now on, bringing exceptional savings across furniture, interiors and home accessories you won’t find anywhere else in Cheshire....