Here’s what we’re following in loyalty news, among other things:
- [Infographic] 4 examples of loyalty reward programs that deliver tangible results
- Hotel chains scramble amidst coronavirus outbreak
- Mobile payments use on the rise due to fear of 'dirty cash'
- Wondering what retailers are open? Here's a list of who's open and who's closed.
- Finding the balance between branded and private label
- Can blockchain make the B2B retail space more profitable?
- Should U.S. airlines receive a government bailout?
LOYALTY PROGRAM NEWS:
4 Examples of Loyalty Reward Programs That Deliver Results [Infographic]
Quotable: “Loyalty programs are now powerful tools of relationship marketing and becoming popular to encourage customer loyalty. U.S. consumers have 3.8 billion memberships in consumer loyalty programs. According to the Center for Retail Management at Northwester University only 12% – 15% of customers are loyal to a single retailer. This small number of loyal customers can generate between 55% – 70% of company sales.”
Hotels Chains Maneuver to Deal With Coronavirus Gut Punch
Quotable: “The actions they are taking are hardly novel as they’ve been used by hotels and other industries during past crises such as 9/11 and the 2008 financial crisis. However, American Hotel & Lodging Association CEO Chip Rogers said Tuesday that the adverse impact that the lodging industry is grappling with is larger than 9/11 and the 2008 financial crisis combined.”
Will coronavirus force NFC's biggest holdouts to adopt contactless payments?
Quotable: “'Use contactless payments, not cash, and if you are forced to enter a code at the terminal, make sure you wash your hands as soon as possible,' said TV 2, a government-owned cable TV station in Denmark, in an article this month offering hygienic shopping tips during the virus outbreak. These problems are heightened by the fact that during the coronavirus crisis, consumers are making frequent trips to supermarkets to restock on food and household items in short supply.”
Which stores are open - and closed - during the coronavirus pandemic in the U.S.?
Quotable: “Some companies, like Apple and Sephora, have shut down all locations indefinitely. Others are reducing hours. And some, like many gas stations and pharmacies, haven’t adjusted hours at all ... Here’s a look at which stores have shut down and those that have reduced hours during the ongoing pandemic.”
Suppliers, retailers find ample room for a variety of products, well-known or not
Quotable: “In deli and dairy, for instance, Gelson’s focus continues to be on branded because of customers’ strong brand loyalty for products in those categories, says Rich Gillmore, senior director of center story category management. 'That’s especially true in first-to-market and local,' Gillmore says. That said, Gelson’s is open to tipping the scales a bit more toward the other end of the scale — as long, Gillmore says, as it’s done carefully, so as not to offend those brand loyalists.”
How Can Blockchain Make B2B Retail More Profitable?
Quotable: “Event planning and management is always deemed to be a difficult exercise for a B2B retail house. The companies need to take care of multiple things like booking, confirmation, validating tickets, identifying participants, etc. Blockchain-based eCommerce technology handles a number of these issues by a ticket scanning and attendance tracking system, which doesn’t just guarantee that duplicate tickets are not issued but also prevent reselling of void tickets.”
U.S. airlines don’t need a bailout to stay in business
Quotable: “Airlines aren’t running out of cash because their debts are coming due sooner than expected. They’re running out of cash because their revenues are much lower than expected. That’s a solvency problem, not a liquidity problem. Losses are inevitable. The only question is whether Washington leaves the losses with private investors or shifts them to taxpayers.”
The Loyalty Newswire is compiled and edited by the staff at The Wise Marketer.