Retail Loyalty: Focus on Success by Putting Common Assumptions to Rest
Loyalty marketing was born in retail, a concept that started with S&H Green Stamps back in the 1930s and has been around so long that by now much of the practice is steeped in myth. Retailers often tend to side with historic “best practices” even when research points in the other direction. Using data to demystify the reality of loyalty, however, can give retailers a clearer picture about the true value of loyalty programs instead of the historical fiction that may be clouding their minds.
When it comes to consumer behaviors and preferences, there are numerous retailing myths that don’t hold up to current research. Here are five: