Retailers everywhere, including hugely popular big-box retailers, are competing for business. While the competition is stiff, these retailers are looking to build loyalty from consumers by trying to entice them to return using tactics such as lowering prices or surprising shoppers with gifts just for being in the store.
“It’s much tougher for brands these days to build ongoing loyalty, especially in an environment where most competition is defaulting to price more than anything else,” says Bryan Pearson, president of consultancy firm LoyaltyOne, to Profit Guide.
According to Pearson, Canadians belong to about eight to 12 loyalty programs on average, with the most popular being Air Miles, the Shoppers Drug Mart Optimum program and Canadian Tire money, according to a survey of over 1,000 Canadians by Environics Research.
Are loyalty programs helpful in increasing store traffic? Do you think there is a better way for retailers to get consumers through their doors?
Sound off below!
