Loyalty will play a critical role this year in holiday shopping, as 66 percent of consumers are planning to shop at their favorite retailers and 44 percent will give gifts from brands they are loyal to. According to a holiday study from Bond Brand Loyalty, 42 percent of these same consumers will use loyalty points to fund their shopping.
"The insights we uncover about shopping behavior, attitudes and preferences can help brands engage more effectively with consumers, ensuring that consumers get the level of service they need to make holiday shopping a positive experience," said Rob Daniel, executive VP at Bond Brand Loyalty. "For example, we found that less than one-third of consumers think customer service is better during the holidays. This is a great opportunity for brands to invest in unique differentiators, like VIP shopping events, gift wrapping, valet parking and loyalty member privileges, to make this important and busy shopping season more enjoyable for their customers."
Loyalty and rewards play a major part in gift-buying decisions, as 41 percent of consumers choose to shop at retailers where they can earn points.
Recent findings released by Colloquy and FanXchange reveal that loyalty programs can greatly benefit retailers. Once enrolled, 43 percent of U.S. consumers have purchased more frequently because of reward offerings.
However, retailers need to make redeeming rewards for loyal customers easy and efficient if they want to keep customers engaged. More than half of American loyalty-program members reported that they are unhappy with the reward options offered by brands. According to research released by Colloquy and FanXchange, 48 percent of those surveyed have experienced frustration during the rewards redemption process.
-See this Bond Brand Loyalty press release
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