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Have you noticed the number of loyalty program relaunches lately? Target, Macy’s, Starbucks, and others have revamped or enhanced their programs over the past couple of years, just to name a few. And it’s no surprise. Shopping habits have changed, and loyalty has gotten harder.
Nearly 70% of consumers agree their loyalty is more difficult for a retailer to maintain than ever before.
But what is causing the change? And why do so many programs feel so similar? Customers are driving everything and not the retailers. They are forcing the change with more expectations than ever and making it difficult for retailers that aren’t making the journey with them. Three global trends are driving these expectations that aren’t limited to retail, but are having a massive impact on retail: Unlimited choice, instant gratification, and the membership economy.
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