Loyalty Programs – Study of customer relationship
Numerous empirical researches reveal mixed evidence of the impact of loyalty programs on loyalty per se. Somel studies have found the positive impact of retail loyalty programs on customer behavior, while other studies have found that loyalty programs have no impact. This heterogeneity in the conclusions leads to a double evaluation of the very phenomenon of the loyalty program, and to criticism of its structures.
Loyalty programs are sustainable economic schemes that offer deferred, accumulating benefits to the consumer. Social identity theory shows the relationship between a client's positive perception of the brand and a sense of self-confidence. It can be seen that loyalty programs influence the formation of new social collective identity. On the other hand, collective identity is used as a positive argument for the recruitment of new customers by the company.
It is a large company operating the e-commerce marketplace aliexpress.com. AliExpress is the e-commerce retail platform of Alibaba, serving buyers from all over the world. Additional perks: customers get benefits in shopping AliExpress: debit & prepaid cards, Black Friday Ads Page. AliExpress cashback allows to get up to 4.91% of the purchase price back.
It is a paid subscription service, perfect example of non-traditional and innovative loyalty program. Amazon Prime Loyalty program gives customers access to extra services for free. Prime Rewards Card members earn 5% Back at Amazon.com with a Prime Credit Card. 2% rewards can be returned on debit spending with Prime Reload.
Payback is the largest and one of most successful multi-partner loyalty programs. It works across Europe and India. There are more than 100 Payback’s partners between the biggest stores and companies. Customers also can take points from formats like Big Bazaar, Central and Brand Factory. Points can be redeemed for goods, services, air miles, tickets, fuel.
Shop Your Way (SYW) program is used by marketplaces Sears and Kmart. SYW was regarded as one of the most successful customer loyalty programs with social media. Additional perks: freecash in points. Exclusive coupons. Free shipping, Personal Shopper services. Customer can win desired product by daily sweepstakes.
Britain’s retailer Iceland Foods is a food retailer with over 900 stores throughout the UK, and over 40 owned or franchised stores across Europe. Using the card can save you a £1 Bonus for every £20 you Save, so you can watch those Savings grow! Iceland also offer a free Home Delivery service when you spend £25 or more in store.