H&M Banks On Customer Loyalty To Help Turn Around Covid Losses

Marketingweek.com says that H&M group has pointed towards the ‘rapid’ growth of its customer loyalty programme as a sign that its customer base is continuing to expand, despite reporting a loss in its latest quarterly statement as Covid-19 restrictions kept stores closed.

The site says that in its financial report for the three months to the end of February, H&M said its customer loyalty programme, H&M Membership, now has over 120 million members in 26 markets – a 71% increase on the same period last year. The loyalty scheme is for the group’s titular brand only and does not include the remaining brands in the group’s portfolio, which includes ARKET, &OtherStories, Monki and H&M Home.

“Our customer base is growing and one example of this is the rapid increase in the number of members of H&M’s customer loyalty programme,” says CEO Helen Helmersson.

“While we are humbled by the uncertainty that still exists due to the pandemic, it is fantastic to see the great interest that customers are showing in our collections. With a well-positioned customer offering we are continuing our transformation at full speed in order to create long-term sustainable and profitable growth for the H&M group.”

H&M has made some significant additions to its program. On top of its pre-existing features, which include earning reward points on purchases, discounts, and the option to ‘shop now, pay later’, H&M members can now earn points for making more conscious choices.

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