Consumer loyalty continues to wane amid inflation, with price taking precedence over brand for many shoppers. As retailers find it more challenging to acquire new customers, loyalty programs take on greater importance—but brands must put value and ease of use front and center to retain existing customers and boost purchase frequency.
Key Question: How can brands and retailers best meet consumers’ changing expectations for loyalty programs during economic turmoil?
KEY STAT: Discounts are the most sought-after loyalty program benefit among US consumers by a wide margin. Nearly four-fifths of respondents in Merkle’s 2022 Loyalty Barometer Report said they like to receive discounts, an increase of 9 percentage points from the previous year.
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