Retailers can choose from diverse array of reward programs
In the past few years, reward cards and point systems have become a ubiquitous part of retail merchandising strategies.
Reward systems award benefits to customers of both retailers and supermarkets for shopping with the company or even helping to build its word-of-mouth reputation. These benefits can range from promotions to discounts and even special members-only events.
Now, more retailers are attempting to spice up their reward programs to differentiate themselves from competitors by introducing new membership structures. For example, Starbucks, Gap and Best Buy offer tiered memberships, awarding those who spend more with bigger rewards, the website Smart Money writes.
Additionally, some retailers have partnered with banks or credit card providers. Citibank cardholders can spend their reward points at Best Buy, while users of the mobile app Shopkick can access discounts at Old Navy, Target, Crate & Barrel and Exxon.
Whatever the type of reward system a retailer decides to implement, make sure it's tailored to consumers. If a store's main customers are older, a strictly smartphone application is unlikely to be a big hit.
