The survey looks at the worldwide impact of persistent inflation and the ongoing cost of living crisis on retailers, particularly grocery retailers and the impact loyalty programs can have on customer retention, engagement, and spending.
GLOThe loyalty survey report from Eagle Eye looks at the current challenges and opportunities faced by retailers in today’s market. With rising inflation and a continuing cost-of-living crisis, retailers are facing significant obstacles in meeting the evolving expectations and behaviors of consumers. However, the report also highlights that this difficult environment presents new opportunities for retailers to engage customers and build loyalty through their loyalty programs.
Based on a survey of over 1,300 consumers and nearly 200 loyalty program managers in different regions of the world, the report emphasizes three key areas of opportunity for retailers to engage with customers: advanced personalisation, Marketing in the Moment, and gamification. The report suggests that grocery retailers are especially well-positioned to use their loyalty programs to deliver the savings and experiences their customers demand.
Personalisation is a key factor in engaging customers, as 84% of consumers believe that personalized recommendations can help them save at the shelf. Additionally, 71% of consumers would consider buying a product or find the information helpful if they received a promotion or offer while shopping in a store. Gamified interactions are also popular, with 66% of consumers stating that they would participate in games, contests, or challenges through a company’s loyalty program.
The report’s findings highlight that retailers should prioritize creating loyalty programs that offer value and personalized experiences to their customers. This approach can lead to increased customer engagement and loyalty, even in uncertain times. Loyalty program managers should also consider making it easier to earn and redeem points through their programs, as 54% of them said they plan to do so in the next 3-6 months.
Overall, the loyalty survey report from Eagle Eye emphasizes the importance of engaging customers through loyalty programs that provide value, personalisation, and gamified interactions. Retailers that successfully use these strategies to improve the customer experience will be those that win customer loyalty, even in challenging times.
Download Eagle Eye’s global loyalty survey report, Grocery’s Great Loyalty Opportunity, here.
About Eagle Eye
Eagle Eye is a leading SaaS technology company transforming marketing by creating digital connections that enable personalised performance marketing in real time through coupons, loyalty, apps, subscriptions and gift services. Eagle Eye AIR enables the secure issuance and redemption of digital offers and rewards at scale across multiple channels, enabling a single customer view. We create a network between merchants, brands and audiences to enable customer acquisition, interaction and retention at a lower cost while driving marketing innovation. The Company’s current customer base comprises leading names in UK Grocery, Retail, Leisure and Food & Beverage sectors, including Asda, Tesco, Waitrose and John Lewis & Partners, Virgin Red, JD Sports, Pret A Manger, Mitchells & Butlers, Pizza Express; in North America, Loblaws, Shoppers Drug Mart, Southeastern Grocers and Staples US Retail, and in Australia & New Zealand, Woolworths Group and The Warehouse Group. Visit www.eagleeye.com for more information.
