‘Tis the season to be jolly’ for marketers. I recently had the opportunity to discuss 2018's Holiday Retail Outlook with my colleagues from Alliance Data, Alliance Data's card services business, Conversant and LoyaltyOne. We all agreed, as retailers are planning for the hustle and bustle of the upcoming holiday season, the future looks merry and bright. The National Retail Federation forecasts that retail sales will increase between 3.8 percent and 4.4 percent in 2018 and, it’s predicted that 40 percent of annual sales targets will come from holiday sales. So how can you ensure you meet your sales targets and beyond? Consider these tips:
Earlier this year, Amazon announced it has more than 100 million Prime members and ever since, there’s been a lot of chatter in the market about paid subscription loyalty programs. The lines between loyalty and subscriptions have increasingly blurred over the past few years as consumers now value convenience and time savings as much (or even more than in some cases) as money savings. To add, companies’ eyes have dollar signs on them knowing margins may improve with the potential incremental revenue subscription programs can drive. However, before plunging into a subscription-based loyalty model, marketers need to take a step back and evaluate if subscription models are best for their brand and its customers.
As loyalty marketers continue to evolve their marketing strategy to remain competitive and exceed the needs of program members, they’re surrounded by disruption and the noise of the latest innovations. Given the complexities that already exist around technology platforms, strategy, people and processes, many ask how do we make sense of all this?