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Study: Loyalty higher for mall-wide programs
For brick-and-mortar retailers, engaging in a mall-wide loyalty program rather than store-specific may be a way to invite more shoppers in the door. That according to a new Spring report which shows consumers engaged with mall-wide loyalty programs spent more than 90% more when redeeming their reward points.
A store's loyalty program can be a huge motivating factor for shoppers, and Spring's 2015 Holiday Shopping Snapshot indicates it can also be beneficial for the stores and malls sponsoring the programs. Their data shows that during the holiday period at one mall, the average, non-rewards shopper spent just over $88 while the average rewards user spend just over $200.
"When a mall leverages a loyalty program that extends to all retailers while pinpointing consumers based on real time spending data, it clearly has an impact on how much a customer spends and how often they come back," said Jonathan Dyke, Co-founder of Spring. "Businesses of all sizes are demanding to see exactly how their digital marketing is driving in-store sales and now they're able to do that in a way never before seen."
Other interesting findings from the report include:
• Time between visits to the mall for non-rewards users averaged 6 days
• Time between reward activation and redemption was 2.41 days
• On average, rewards users spent 125% more than non-rewards users
Image via Shutterstock
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