Executing payment card (credit, debit, stored value, or gift card) or non-card based loyalty programs (personalized promotions, referral) should be a simplified and convenient task for retail employees. On the contrary, the inadequacy at the POS indicates that there exists a “large customer service process and technology gap” at the focal point of customer service in retail.
Considering that the store environment still retains the highest share in sales volume for a multi-channel retailer, this shortcoming directly undermines the ability of a retailer to harness long-term and profitable customer relationships.
The silver lining is in the fact that 50% of Best-in-Class retailers use automated loyalty processes at POS leading to improved performance metrics such as a 16% year-over-year increase in customer retention.
Read the Research Report abstract below. Or, download the full report on Aberdeen’s website.