Loyalty program

Loyalty program

A initiative by a company to incentivize repeat purchases and customer loyalty by offering rewards, discounts, or exclusive benefits.

These programs aim to retain existing customers, drive revenue, and enhance brand reputation by fostering trust and incentivizing continued engagement. By encouraging loyalty, these programs reduce customer acquisition costs, increase sales, and attract new customers through positive word-of-mouth and referrals. Additionally, they provide businesses with valuable customer data and insights for targeted marketing efforts and personalized experiences, contributing to long-term profitability and growth.

Related Terms

Assortment

The variety of products that a retailer offers for sale to meet the diverse preferences and

Basket Size

The amount that a customer spends in a retail store in single transaction.

Category Manager

The person is responsible for overseeing a specific category of products of a brand. They develop