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IDC PeerScape: Retail Practices for Implementing Loyalty Applications

Publisher IDC
Published Oct 23, 2024
Length 14 Pages
SKU # IDC19280272

Description

IDC PeerScape: Retail Practices for Implementing Loyalty Applications


Loyalty is a key differentiator for customer retention. It turns the value of convenience into a test for customer satisfaction and enables for consent-based trusted relationships with customers, said Ornella Urso, research director, IDC Retail Insights. Implementing a robust loyalty platform is essential for retailers seeking to enhance customer experience and drive profitability. By addressing challenges in data integration, privacy, and continuous optimization, retailers can deliver personalized and secure experiences that foster long-term customer loyalty, said Cristiano Quattrini, senior associate advisor, IDC Retail Insights

Table of Contents

14 Pages

IDC PeerScape Figure

Executive Summary

Peer Insights

Practice 1: Use Robust API Integration for a Unified Customer View

Challenge

Example

A Footwear and Accessories Retailer

Guidance

Practice 2: Implement Security Protocols and Manage Customer Consent

Challenge

Example

A U.S.-Based Retailer

Tesco

Guidance

Practice 3: Analyze Data, Personalize Rewards, and Adapt Strategies Using Advanced Analytics

Challenge

Example

LuisaViaRoma

Sephora

Guidance

Practice 4: Invest in Scalable AI Platforms and Train Staff to Use AI Tools Effectively

Challenge

Example

A Europe-Based Beauty and Personal Care Retailer

Gucci

Guidance

Practice 5: Select Secure Blockchain Platforms, Create Engaging Game mechanics, and Regularly Update Rewards

Challenge

Example

Nike

adidas

ASDA

Guidance

Pricing

Currency Rates
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