Getting Retail Loyalty Right

Summary

Many retailers are pursuing rewards programs designed to strengthen their relationships with otherwise fickle shoppers. While these efforts have the potential to generate substantial benefits, L.E.K. Consulting research shows that too many rewards programs are poorly conceived – resulting in initiatives that don’t meet retailers’ goals and loyalty cards that are passively exploited by consumers.

To address these issues, L.E.K. has developed a report that addresses these issues and includes:

• Proprietary research that ranks how consumers value loyalty reward program bonuses among a broader list of promotional preferences
• Steps that retailers can take to determine whether their programs are creating effective customer engagements and fostering long-term relationships
• Key considerations when auditing your rewards program