The Great Loyalty Reset: A Global Outlook on Retail & CPG Loyalty
Changing consumer preferences.
A market in flux.
It’s time to >reset and >reignite loyalty.
It’s time for >connected loyalty.
The first in a series of global loyalty surveys conducted by 500friends and Merkle’s Loyalty Solutions Group, The Great Loyalty Reset reveals some long-standing misconceptions about consumers' engagement with loyalty programs.
Analyzing sentiment data from retail and CPG loyalty program managers and members of loyalty programs across the globe, the findings serve as a wake-up call for retailers to embrace "connected loyalty" in order to stay relevant in a marketplace undergoing constant, rapid change.
Doing so will solve key challenges:
> The Loyalty Disconnect: While loyalty program managers profess to have a 360-degree view of their members, consumers say they often feel as if "the brand doesn't get me."
> Stemming Churn: 50% of consumers have quit a loyalty program, and those who leave are prone to shop less with the brand or abandon it entirely.
> Increasing Spend: 86% of consumers who like a loyalty program will shop more, and of those, 58% will shop 15% or more with their retailer/brand of choice.
Why is "10" the magic number for consumer loyalty programs? Which factors erode brand loyalty? How can brands turn the tide to deepen loyalty and improve financial performance? And what does “connected loyalty” really mean?
Find out those answers and more by adding yourself to our list to receive a free copy of The Great Loyalty Reset. Just fill out the form at the bottom of the page.to the right.