Leading retail brands have had to shutter a significant amount of stores and change their leadership after having market share chewed up by up-and-coming direct-to-consumer (D2C) brands. Although they might have a loyalty program, their benefits are focused on discounts versus experiences. D2C brands are already offering lower prices, so this strategy is not sustainable.
In contrast, Nike offers their Nike+ members access to all of their events, but does not let any non-Nike+ members into these events. Instead of relying on discounts, Nike brings the heat when it comes to experiences, increasing the brand loyalty and feeling of exclusivity.
At Splash, we’ve even seen brands focus on collecting registration and check-in data to integrate into their loyalty systems’ points economy. This means consumers go out of their way to check into an event and receive points to use for discounts, exclusive offers, and more events.
With more in-store traffic and actionable event data fueling loyalty programs, retailers will be able to keep more stores open, create more power stores and add value to their brand with high-touch, exclusive experiences for customers.