Youth Shopper Loyalty: Will That Be Points or Discounts?

Post on 29-Nov-2014

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Are Youth Shoppers Loyal? Young shoppers are the most desirable yet elusive group of consumers. Companies and loyalty programs are daily challenged to find solutions on how to extend the life time value of customers by attracting them at a younger age. In this presentation the key insights of SPC Card’s The Pulse of the Canadian Student Shopper Report 2013 are revealed. Some key findings include: • 45% of Canadian student shoppers believe that loyalty programs for people their age need to involve social media connections and community • 55% of Canadian student shoppers would consider checking in at various participating retailers in exchange for points, rewards and discounts • 33% of Canadian student shoppers wish loyalty programs offered more of an experience rather than just discounts • 62% of Canadian student shoppers would consider converting points or rewards into credits to pay down obligations like a monthly cell phone plan or a student loan

transcript

WILL THAT BE POINTS OR DISCOUNTS?

HOW TO ATTRACT YOUNG SHOPPERS AND KEEP THEMNicholas BianchiLoyalty CanadaJuly 24, 2013

Hilton Toronto Ontario

WHAT WILL I BE TALKING ABOUT?

What is SPC Card?

Loyalty and Me

Youth and Loyalty: Perplexing Questions

The Pulse: Basics

The Pulse: Insights and Recommendations

LAW OFYOUTHDISREGARD?

$1,350,000,000,000

PERPLEXINGQUESTIONS

THESEARE YOURFUTURECUSTOMERS

WTF ISA REWARDPOINTWORTH?

WHAT DOES COLLECTING REWARD POINTS REALLY MEAN TO ME?

HOW LONGBEFORE IEARN ENOUGHPOINTS TOREDEEM FOR…

…A TOASTER.

THE PULSE

Canadian youthshoppers, ages 14-24,are members of at leastone loyalty program

LOYALTY MEMBERSHIP

COALITION PROGRAMS

PROPRIETARY PROGRAMS

PROPRIETARY PROGRAMS

When a retailer offers a loyalty program, I know they want to offer me the best deals

BRAND LOVE

INSIGHTSAND RECOS

Prefer getting instant discounts versus collecting points

MIX IT UP

Wish loyalty programs offered more of an experience rather than just discounts

GET EXPERIENCED

Hardly ever redeemtheir points

MAKE THEM REDEEMERS

Problem with most loyalty programs is that they aren't very good at providing benefits or rewards quickly enough

GET FASTER

Unclear about the value of reward points and often find them confusing

BE CLEAR

Don’t find communications I get from loyalty programs to be very relevant

BE RELEVANT

Consider converting points or rewards into credits to pay down obligations like a monthly cell phone planor a student loan

BE REALLY RELEVANT

Consider contributing reviews or comments online in exchange for points, rewards or discounts

TRADE UP

Like the idea of pooling points or rewards with friends and family as a route to bigger rewards,steeper discounts, etc.

LET THEM SHARE

Consider providing personal preferences to a loyalty or rewards program in exchange for more targeted and relevant advertising and offers

BE ON TARGET

Consider volunteering time to a cause or charity in exchange for points, rewards or discounts

CAUSE IT

Consider driving my friends to shop in a given time period at a given store in exchange for points, rewards or discounts

BE FRIENDLY

Consider converting points or rewards into ballots for daily contests to win trips, tickets and merchandise

HAVE FUN, PLAY GAMES

WIN $10,000 WIN $10,000

AMAZING PRIZESAMAZING PRIZES

PLAY GAME!THE

AND OTHER

GRAND PRIZE PROVIDED BY

YOU COULD

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