Sixty per cent of Australians prefer to shop with retailers that they have aloyalty program with over the Christmas period, revealed new findings fromWorldpay by FIS’ Generation Pay Report.
The research is a good thing to keep in mind for retailers looking todifferentiate themselves from competitors this Christmas.
The best feature to attract new sign-ups to a loyalty program are non-expiringpoints, with 62 per cent of Australians viewing this as important, especiallyBoomers at 74 per cent.
Phil Pomford, General Manager for Global eCommerce, APAC, Worldplay from FIS,said loyalty programs have evolved tremendously.
“Gone are the days of the ‘punch card loyalty program’ where consumers need toshop at the same store several times to be rewarded. The biggest shift has todo with the immediacy and convenience of the rewards-redemption experience.Today’s consumers expect to be rewarded instantly for shopping at theirfavorite brands and to be able to redeem rewards immediately at point-of-saleor online.”
Features that consumers list as important are the ability to earn rewardsautomatically at 47 per cent, to track their rewards at 38 per cent, and beingable to use their rewards at multiple retailers, also at 38 per cent.
Offering a loyalty program can now entail a wide variety of benefits includinggiving the consumer the ability to donate to a charity, which 20 per cent ofGen Zs believe is important.
“A brand’s loyalty program also cannot be a ‘one size fits all’. Differentgenerations want different types of rewards and to receive those rewardsthrough a different variety of channels. A personalised experience is key toattracting and retaining loyal customers,” said Pomford.
The major channels consumers are looking for loyalty programs are groceries at75 per cent, travel at 51 per cent, and health and wellbeing services at 50per cent.
As well as loyalty programs, 70 per cent of Australians look for retailers whooffer a good returns policy.
Tagged: Christmas Shopping, Loyalty program
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