Why retailers must have loyalty programs

Loyalty programs have long functioned as a customer retention technique, especially as it is much less costly to keep customers returning as opposed to attracting new ones. But retailers are not keeping up with the trend, according to a report from Boston Retail Partners.

• 47% of retailers do not currently offer loyalty programs to their customers.
• Of those that do, 73% do not offer access to it through a mobile platform.

Particularly, the lack of mobile integration is a big area for concern when it comes to loyalty programs. Shoppers are using their mobile devices in the store more often to research products and find deals. Offering loyalty program access through a mobile platform presents a vital opportunity for retailers to keep customers engaged with their own brand while shopping in-store, especially as digital coupons are the most influential media content among consumers, according to a study published by the National Retail Federation.

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