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BizReport : Loyalty Marketing : February 09, 2015

Survey finds loyalty schemes increase average basket value by 120%

Implementing a loyalty scheme not only increases basket value, found a recent survey among retailers, but also increases store visits.

by Helen Leggatt

A recent survey conducted among 528 retailers in the U.K. by Trusted Loyalty Partners found that the majority (78%) had, at some point, a loyalty scheme in place. Just 22% they had never done so. Among those who had a loyalty scheme, that scheme had benefited them in terms of both increased basket value and footfall.

Among those retailers who had, at some point, put a loyalty scheme in place, nearly two-thirds (63%) had seen an increase in basket value. Overall, basket value increased by an average of 120%. Just 4% said they experienced a decrease in basket value or saw not change in spend.

In terms of footfall, 71% said they recorded an increase after implementing a loyalty scheme with an average visit increase of 185%.

"It's great to see that so many retailers are living proof of the benefits which we are always speaking about when discussing the rewards of putting a loyalty scheme in place. We believe that this is still a largely untapped area, with potential to be really beneficial to both retailers and to those taking part in the reward scheme. The findings of this survey only reiterate the win-win nature of the systems," said Chris Heather, Director at Trusted Loyalty Partners. "We hope that more retailers open up to the possibilities created by loyalty schemes. It's a safe and effective strategy to not only encourage shoppers into your store but also to increase their average basket spend value."

Image via Shutterstock

Tags: loyalty marketing, retail

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