According to The Center for Retail Management at Northwestern University only 12% to 15% of consumers are loyal to a single brand. The same research indicates that this relatively small group of shoppers generate between 55% and 70% of a retailer’s sales. Given these statistics it is easy to understand why so many retailers are focused on identifying and retaining these loyal customers and with creating more of them. But retail loyalty programs are the least mature and in many ways the most challenging to develop and sustain. A combination of data challenges, financial constraints, channel management and cultural issues have made it difficult for retailers to maximize the value of their loyalty programs.
The Mallett Group has worked with some of the biggest and well-known retailers helping them overcome these challenges and develop successful strategies and programs. In addition we are actively engaged with over 800 national, regional and local retail partners allowing us to monitor consumer trends and gain insight on what’s working and what’s not. We see firsthand the erosion in customer loyalty caused by daily discount programs and the need to master the use and integration of social media in growing profitable customer relationships. Using this knowledge, we help retailers create a roadmap for success that ensures that loyalty marketing investments are allocated wisely and provide the desired bottom line results. Our expertise and experience includes:
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