When one thinks of loyalty programs, the first thing that comes to mind is an attractive card that can be flaunted in the wallet. But look at the history of loyalty programs and you will realise that they go beyond just giving the customer a cool card for some discounts and cashbacks.
The science and glamour accompanying loyalty programs today lead one to believe that the phenomenon was started by a bigshot retailer a few decades ago. In reality, customer loyalty programs date back to the 19th century. Originally the product of the imagination of a few retailers in America, the initiative comprised of American retailers giving customers copper tokens with purchases that could be redeemed later for products on future purchases. Yes, you read it right. Loyalty programs initially set their base in copper!
The journey of loyalty programs from copper to paper followed by the sophisticated plastic cards and now just mobile numbers has undergone a massive transformation. The purpose of the initiative too has seen a revolution – from simply offering discounts to helping a brand build an emotional connect with its customers.
Loyalty Programs & the Indian Retailer
Denne historien er fra October 2019-utgaven av Images Retail.
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Denne historien er fra October 2019-utgaven av Images Retail.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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