Barneys New York will introduce a new loyalty program offering exclusive experiences, VIP services, perks and rewards to all of its shoppers. Launching April 1, the Barneys New York Influencer rewards program will be open to all Barneys customers regardless of their chosen form of payment.
The special experiences offered through the program include private designer events, complimentary beauty treatments, salon services at Sally Hershberger and Blind Barber at Barneys New York and complimentary experiences at Freds restaurants. More traditional loyalty benefits include personalized promotions, early access to sales and expedited shipping.
Perks from the Barneys New York Influencer program will be offered through a tiered system, with shoppers that spend more annually receiving bigger rewards. All members will receive a baseline reward of 2% back on all purchases, and 4% back on all purchases made with a Barneys New York credit card, and special promotions will offer opportunities to earn additional points throughout the year.
Other retailers have been adding tiers to their loyalty programs, with Sephora one of the most prominent recent examples: the retailer added additional gift offerings and perks for higher-tier members of the Beauty Insider program, giving shoppers a reason to spend more.
These incentives can be a powerful tool for luxury retailers. While satisfied luxury customers spent an average of $699 at their preferred retailers between 2016 and 2018, spending jumped to $1,423 for emotionally connected shoppers, according to a study by Motista.
Barneys also is forging connecting with shoppers through the launch of “The High End,” a luxury cannabis lifestyle and wellness concept inside the retailer’s Beverly Hills, Calif. flagship. A.T. Kearney found that 56% of U.S. consumers say they would try cannabis if it were legal, and jumping into this up-and-coming market could make Barneys the retailer of choice for those interested in both luxury and cannabis.
This diversification also could help Barneys reach a new generation of luxury customers — 50.9% of Millennials prefer to use their disposable income for luxury products, entertainment, meals and high-end experiences rather than a better health care plan, according to a study by The Pearl Source. Barneys’ latest offerings will help the retailer appeal to shoppers across multiple demographics.
“Who are we to tell people what luxury means to them?” said Daniella Vitale, CEO and President of Barneys New York during a panel at Shoptalk 2019. “What Barneys offers is going to be very different to a 65-year-old than to a 17-year-old.”