ReThink Retail - Fighting Fire with Fire: 3 Tools to Blaze Past the Competition
In-person commerce is proven to build great consumer loyalty and has demonstrated increased RPU. Put a “face” to your business and build your reputation as a trusted local retailer. You can do something that is beyond the scope of Walmart or Amazon. Use your superpower for good.
Despite the lack of paper-based stamp cards during the pandemic, research shows consumers are more likely to conduct business with a store if it has a loyalty program. In fact, highly engaged customers buy 90 percent more often and spend 60 percent more per transaction. However, 79 percent of consumers are also more likely to join a rewards program that doesn’t require them to carry a physical card. Many stores now let consumers scan in-store QR codes to a smartphone for instant loyalty points, while other stores are using capacitive touch screen technology to capture actual in-store presence.
Here are three key techniques driven by the increasing demand for in-person retail and the revival of in-person loyalty programs. These three techniques have been found to be useful for brick-and-mortar store bringing business back in 2021.