The practice of customer loyalty marketing needs to evolve even faster post-COVID-19.
Most loyalty programs, which are largely transactional, are insufficient to help brands emerge. Our research shows fewer than 25 percent of consumers are currently “very satisfied” with loyalty programs. That represents a 44 percent drop from pre-COVID ratings, which were already too low.
Consumer shopping habits, changed by the virus outbreak, could represent a huge opportunity or stumbling block for retailers. Sixty-five percent say how brands respond to the crisis will have a “huge” impact on their purchase intent and 37 percent have already made a change.