Loyalty Program Trends Within Retail

1763 Words Nov 23rd, 2016 8 Pages
Loyalty Program Trends in Retail

A loyalty program is a reward based program that is offered by a company to their customers who make purchases frequently. Loyalty programs have been known to gain customers more coupons, exclusive access to certain sales, free promotions, and much more. Many different organizations and stores have created different types of loyalty programs for their customers over the years. These programs are important to prospective customers in gaining their loyalty so that they may shop at their store as opposed to another local competitor. Having various stores with these programs is also beneficial to the customer because stores are constantly competing against each other. Stores over the years, especially during holiday seasons, are always trying to outdo their competitors to get you the lowest price possible and them the most sales. Many stores have now introduced price match where you can bring in a local competitor 's ad and they will honor the same price in their store. This is a great way to bring in customers because the price is no problem if it is easily adjusted. Stores that you go to every day such as Target, Walmart, Kmart, BestBuy and Toys R Us all offer price match all year round. Typically with most of these stores, there is a 14-day policy that you have to bring in another competitor 's ad to get that price adjusted to the lowest price. This gives shoppers the…
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