Rewards Cards & Programs

Goals

Provide an understanding of best practices and case studies of brands that have increased applications for their rewards or loyalty programs

Early Findings

  • Of all US retailers surveyed, an estimated 51% plan to offer loyalty programs.
  • The loyalty program market is projected to reach $201 billion by 2022.
  • However, it's noted that 70% of shoppers don't see loyalty as a reason to pay higher prices.
  • In 2019, many retailers reinvented, upgraded, or dropped their loyalty programs.
  • 4.9% of department stores, 5.2% of specialty retailers and 5.9% of active wear retailers recently launched loyalty programs.
  • Key department stores and retailers that changed their loyalty programs in the past year included Macy's, Nordstrom, Kohl's, Target, DSW and Lululemon.
  • CVS, Nordstrom, Barnes and Noble, and Target were some of the top ranked loyalty programs of 2019.
  • Best Buy was considered to have one of the most engaging customer loyalty programs of 2019, offering free shipping and perks such as early product access and price-matching.
  • DSW also had an effective loyalty program which used personalized emails and active campaigns to reminds members about rewards participation.



Proposed next steps:

You need to be the project owner to select a next step.