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Retail CRM provides insights from leading retailers and industry experts that help improve the customer experience at every touch point and across all channels. Some topics covered in CRM articles include customer loyalty, email marketing and promotion optimization. Subscribe to the feed and stay in touch with the latest retail happenings.

Who Are Your Superconsumers? Why Retailers Need To Know

They walk among us. They look just like everyone else, but they have a secret identity. They are: SUPERCONSUMERS! Superconsumers are more than just good customers; they are passionately devoted to “their” brands. They are the sneaker-heads who own dozens of pairs of sneakers, or the bacon-loving consumers who call themselves “pork dorks.” They comprise approximately 10% of a brand’s customer base, and former Cambridge Group Principal Eddie Yoon believes retailers should proactively establish a dialogue with their Superconsumers and really get to know them. The insights they reveal will provide valuable clues about marketing, merchandising and product development — and they might even help turn some regular consumers into SUPERCONSUMERS!

Retailers Vs. Brands: The Battle For Consumer Attention

Consumer expectations have reshaped the dynamic of how retailers and brands approach their partnerships. With fewer people shopping in stores and direct-to-consumer selling on the rise, the retailer-brand relationship is strained: Brands are finding a niche in direct-to-consumer sales; Loyalty is becoming more “brand”-focused and less merchant-focused; Data analytics sharing is vital to successful retailer-supplier partnerships; and Retailers are looking for lower prices, better content and more co-op investment from their brand partners.

Online Retailers Teach Personalization, Mobile & Convenience To Brick-And-Mortar Competitors

Recent headlines in both the trade and mainstream press have been full of variations on the same theme: Brick-And-Mortar Retail Is Dying! And these headlines are not just clickbait.  There were more retail bankruptcies in the first four months of 2017 than in all of 2016. A rash of store closures also are making the news, both by some of the largest retailers (Macy’s, Sears, Payless Shoe Source) and smaller players including hhgregg and The Limited. An NBC News report noted that more than 100,000 retail workers have lost their jobs since October 2016. A frequent counter-argument to these stories goes like this: If brick-and-mortar retail is such a terrible business model, why are so many online retailers rushing to open physical stores? (A partial list includes Amazon, Warby Parker, Bonobos, Minted and Casper.) It’s certainly a valid question — but the answer is more complicated than it might appear at first glance.

4 Tips To Improve Consumer Engagement With Loyalty Programs

Consumers are eager to sign up for loyalty program memberships: average program enrollment has climbed 31% over the past four years, reaching 14.3 programs per member. But getting shoppers into a program is the easy part; it’s much tougher to keep them engaged. On average, consumers are active in only 6.7 programs, less than half the total that they belong to. The 2017 Bond Brand Loyalty Study, based on a survey of more than 28,000 North American consumers, examined 400+ loyalty programs across more than 10 industry sectors. The good news for retailers is that they already have a head start. Many of the programs offered by retail brands rank high in customer satisfaction, according to the report.

Retail Customer Acquisition Vs. Retention: A Zero-Sum Game?

It’s one of the eternal questions retailers face: Do we focus more on customer acquisition or on customer retention? At first glance, the answer seems to be a no-brainer. Unless a retailer is totally new to the market — meaning acquiring customers is a matter of survival — retaining existing customers offers the double benefit of lower costs and higher returns. The cost of acquiring a new customer can range from five to seven times the expense of keeping an existing one. The probability of converting a new customer falls in the 5% to 20%range; for existing customers, it’s between 60% and 70%.

Data-Driven Personalization Serves 1.2 Million Loyal Fabletics Customers

Many retailers talk a good game when it comes to personalizing interactions with each customer, but Fabletics really walks the walk. The brand is gathering extensive customer data from the 1.2 million members of its continuity-based subscription retailing program; Fabletics supplements this data collection with sophisticated in-store technologies that build comprehensive customer profiles in near real-time. But Fabletics also uses that data, in ways large and small. This continuous feedback loop gives the retailer a competitive edge in a number of key areas, including:

Waitrose Delivers Real-Time Targeted Messaging At POS

  • Published in News Briefs
UK grocer Waitrose will be using the “Message at Till” solution to deliver real-time messages at the point of sale (POS) in all 350 stores. The retailer has been testing the solution since 2015. The Message at Till solution prints out personalized promotions, offers and messages alongside paper receipts at…
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Diane Von Furstenberg Implements Mobile POS Globally

Luxury fashion brand Diane von Furstenberg (DVF) is rolling out mobile-first point-of-sale and a clienteling solution that will give store associates the data they need to make more accurate predictive product recommendations. The retailer, with stores in more than 55 countries, is extending its use of the Salesforce Commerce Cloud…
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Amazon Plays Hardball: Outscores Sporting Goods Growth Rate By 4X In 2016

Amazon accounted for less than 5% of all U.S. outdoor and sporting goods sales in 2016 — $5.5 billion out of a total market of $120 billion. But with a growth rate that is four times the 5% achieved by the industry as a whole, Amazon is likely to rack up bigger numbers on the scoreboard before long. These stats have brought Nathan Rigby, VP of Sales and Marketing at One Click Retail, to one conclusion: brands must build a working relationship with the e-Commerce giant. In fact, he believes that modern outdoor and sporting goods brands that don’t have a data-driven Amazon strategy in place will underperform or go bankrupt within the next five years.

Spinx Loyalty Program Fuels C-Store Customer Satisfaction

Loyalty programs come in all shapes and sizes, and many retailers are finding that successful programs go beyond discounts. In fact, 63% of loyalty program members believe that having a wide range of rewards and offers is the most important aspect of a loyalty program, according to research from Collinson Latitude. That’s why every brand and retailer must tailor its rewards program in ways that benefit both the company and the customer. Family-owned convenience store retailer Spinx wanted to create a loyalty program that helped to better position its high-quality, premium products — such as fried chicken or health wraps — without diluting the value and equity of the brand with discounts. The company partnered with Excentus, a loyalty marketing and technology solutions provider with a Fuel Rewards offering, to create its first-ever loyalty program, Spinx Xtras.
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Instead of offering discounts on convenience store items, the Spinx Xtras program allows members to earn discounts on gas. “Through the Spinx Xtras program we are able to offer customers fuel discounts through in-store item purchases, a market basket discount and payment options by which customers link their loyalty card to their checking account,” said Sandy Turner, Director of Marketing and Advertising…

RIC 2017 Preview: Hear From Industry Trailblazers Driving The Retail Revolution

Disruptive brands, innovative thinkers and new data discoveries are all driving rapid change in retail, and it can be tough to keep up. But the Retail TouchPoints 2017 Retail Innovation Conference, being held May 9-10 at Apella in New York City, will give attendees a crash course in what’s driving the retail revolution — along with lots of practical advice about how to take advantage of new opportunities. Some of the program highlights include: • Executives from companies including Walmart, Walgreens, J. Crew, Shinola, Jet.com, Moosejaw and Neiman Marcus; • Leading analysts from IDC Retail Insights, Deloitte Consulting, ERDM and Boston Retail Partners; • Exclusive results from the Retail TouchPoints Impact Of New Retail Roles survey; and • New York Times best-selling author Bryan Eisenberg revealing how companies can win with pages from Amazon’s Playbook. Read on for a preview and register today before all seats are sold out!

TechStyle CEO Adam Goldenberg: Technology Is One Of Our Products

As its name implies, TechStyle represents a marriage of technology and fashion. It’s the parent company of successful, fast-growing brands including Fabletics, JustFab, ShoeDazzle and FabKids. TechStyle uses proprietary technology, personalization and vertical integration to create a winning combination of subscription e-Commerce with brick-and-mortar retail. The emphasis on technology comes naturally to Co-CEO and Co-Founder Adam Goldenberg, who has been a serial tech entrepreneur since the age of 15. At 17 he sold his Gamer’s Alliance web site to Intermix; he was then offered a full-time position there, becoming COO at the age of 20. In this exclusive Q&A, Goldenberg reveals what makes TechStyle unique, including a heavy reliance on data, an emphasis on speed, and fruitful collaborations between data scientists and fashion merchandisers.

LIDS Looks To Hit Home Run With New Loyalty Program

With 39% of consumers using two retail mobile apps at most on a regular basis — and 21% using no retail app at all — retailers face an uphill battle selling the apps to consumers. But sports apparel retailer LIDS has stadium-sized goals for its recently unveiled mobile app and rebranded “Access Pass” loyalty program, according to Jeff Pearson, the company’s Senior VP of Marketing and E-Commerce. “We would like to have between 10% and 15% of the customers download and regularly utilize the app,” said Pearson in an interview with Retail TouchPoints. “Our goal is to have between 30% and 40% of our customers become a loyalty member.”

Coupons Can Tempt 79% Of Loyal Consumers To Switch Brands

Coupons might seem old-fashioned, but they remain a major part of the shopper experience, with 90% of consumers saying they obtain them from a variety of print and digital sources. In fact, coupons may matter more for customer acquisition than brands realize: 79% of self-defined brand-loyal consumers are influenced to buy a brand they wouldn’t typically have purchased due to a coupon’s influence, according to research from Valassis. “The only true loyalty consumers have is looking for value,” said Curtis Tingle, CMO of Valassis in an interview with Retail TouchPoints. “That value means different things…it may be an experience they’re looking for in a particular retailer. Consumers always want a good deal, they want the right price for the service or product they’re receiving, and coupons definitely influence that.”

CCSeries Webinars: Making The Shopper Experience Friction-Free

Did you miss the Retail TouchPoints Connected Consumer Series webinars, broadcast March 27-30? (Perhaps you were part of the throng that descended on Las Vegas for Shoptalk.) Never fear, all eight sessions are now available on-demand. This year’s series explored the many ways retailers can remove friction from the shopping experience — from using AI to deepen personalization to offering credit-wary Millennials new payment and financing options. Practical advice ranged from tips for maximizing mobile sales, empowering front-line employees, leveraging consumer-generated social content, and the true million-dollar question: finding out what your customers really want.
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