Merchant Warehouse uses Hanover Research’s report CRM & Loyalty Programs Best Practices, to produce a report on the effect of loyalty programs on back-to-school shopping. They recently pushed out a press release and infographic, which can be found below.
Excerpt from Merchant Warehouse’s press release:
A new report from Merchant Warehouse shows that while most back-to-school shoppers say they would shop at a different store if offered a promotion, almost two-thirds of retailers were not planning to offer a loyalty or rewards program during the 2014 back-to-school shopping season.
Merchant Warehouse, a provider of payment technologies and merchant services, used research from Hanover Research and the National Retail Federation. It found that 85% of back-to-school shoppers return to the same stores each year, yet 91% said they would shop somewhere else if a different store offered a promotion or a reward. However, just over one-third (34%) of retailers were expecting to leverage a loyalty or rewards program during the 2014 back-to-school shopping season.
The research also shows that the average back-to-school spending for families with children in grades K-12 on apparel, shoes, supplies and electronics is estimated to be nearly $670 during 2014, an increase of 5% from 2013. In addition to producing higher retail revenue during the back-to-school shopping season, the research shows that having an effective loyalty program can increase a brand’s market share by 20% in the months following, and improve customer acquisition by up to 10%.
Click here to access Hanover Research’s report on CRM & Loyalty Best Practices
Click Here to access Merchant Warehouse’s report and infographics.