Customer loyalty is a critical component of any established or growing retail business. However, traditional customer loyalty has lost relevance due to the rise in social channels and digital engagement. Research shows that customers who actively engage with brands and their loyalty programs make 90% more frequent purchases, spend 60% more in each transaction and are five times more likely to choose the brand in the future. Every marketer knows it’s easier to attract a new customer than retain one. The acquisition cost is the main reason behind building solid relationships with customers and rewarding the most loyal customers. Loyalty programs are a long-proven tactic to help develop these relationships.
