Following news from CBI that retail sales in November have picked up after a sluggish October, Loyalty Pro managing director Rob Meakin suggests that small businesses can take advantage of an uplift in consumer confidence using personalised, loyalty offerings.
He commented: “The news from CBI that retail sales have far outperformed expectations will be a welcome respite for retailers after a series of bleak predictions and a sluggish October. As consumer confidence seems to be picking up ahead of Black Friday’s ‘peak trading’ period, it will be important for retailers of all sizes to consider the best customer attraction and retention methods. While big ecommerce players such as Amazon and Argos will be looking online to entice consumers with early Black Friday deals, smaller and local retailers should be looking at loyalty methods to keep customers’ interest piqued.
“November and Christmas aren’t just about the big players, of course – it’s easy to forget that small businesses account for 99.3% of all private sector companies. In order to reap the benefits of a customer willing to spend more in the lead up to December, smaller high street retailers and chains need to be using personalised loyalty offerings to keep consumers engaged. It’s no good creating loyalty schemes for the sake of it – they have to be relevant to the customer and reward their loyalty in a way that suits them, whether that be through points, experiences, discounts or even charitable donations. As we approach ‘peak trading’ time, the businesses that act on their shoppers’ loyalty first will shine in a crowded market.”