Peoples passion over shopping does not end till the world last. They spend most of their income for shopping especially during holiday season. As a precaution, shoppers are taking a holistic approach to their holiday spending. By joining loyalty and rewards program and consolidating their spending at specific retailers to achieve hard dollar savings during the holiday season.
Rewards now become the new currency for shoppers and they spend it carefully like a savings for the future and to get best out of the holiday season.
Loyalty and rewards program -Trend Analysis
According to a survey conducted by Citi retail service, more than two-thirds of Americans expect more savings from their holiday shopping through rewards programs. Average of customer are expecting to save for an amount between $149 to $200 from their upcoming holiday shopping.
The survey also found that loyalty programs are very effective in the holiday sales. Almost 86% of customers saying they are more loyal to the brands and 72% of rewards users told they’re smarter holiday shoppers than their peers. Also 67% of shoppers said they have already taken extra steps to redeem rewards. About 41% of shoppers said they plan to use their rewards treat themselves . Almost 90% of shoppers plan to utilize those programs during the holidays sales for savings.
Shoppers are taking positive means to plan out their spending and expand their budgets in a diplomatic way. Survey found that the shoppers consciously spending with the expectation of receiving bonus rewards or points promotions. As a result, 42% of shoppers follow common practice of buying in bulk and 20% depend night shopping to take the advantage of flash sales.
Coming days, the rewards programs are critical for sellers to resonate with consumers across the country, regardless of age. Consumers are very confident that they will save money through rewards programs for the holiday season. Retailers need a consistent modification and always keep a pulse on what customers are experiencing not only in stores but in competitors. Then only they can boost holiday purchasing power of customers through rewards programs.