Welcome back to The Wise Marketer. Every Monday, our team of editors curate a list of the latest customer loyalty, marketing, and other relevant news to make it simple for busy professionals to quickly digest important, trending topics. Show your support by joining our mailing list to gain access to exclusive content, events, and promotions. Or you could just follow us on social media!
- Gap has launched a new integrated rewards program which combines credit card and loyalty programs from their four brands
- Analysts have predicted the market share of Mister Car Wash to nearly double, partially due to its simple, yet effective loyalty program
- QSR brand Del Taco has announced plans to introduce its first loyalty program, Del Yeah rewards, in September
- Bond, in partnership with Visa, released The Loyalty Report 2021 which highlights the major shift in consumer behavior, and identifies essential loyalty metrics in today's post-pandemic world
- According to CB Insights, investments in retail technology hit a new record this quarter as funding reached $31.5B
- Content recommendation company Taboola has entered the world of e-commerce with its recent acquisition of Connexity for roughly $800M
- GRUBBRR's self-ordering technology platform has proven essential to the recent growth of The Chicken Shack
- Waitbusters has partnered with Loyal Patron to create a unified loyalty solution to streamline customer service
- The key to decrypt data from a large-scale ransomware attack targeting the supply chain has been acquired from a mysterious source
- Florida Department of Economic Opportunity officially confirmed the recent data breach targeting unemployment account information
- Coco Collection has selected Cendyn's innovative CRM platform to power its new rewards program
LOYALTY PROGRAM NEWS:
Gap Inc. Announces Launch of New Integrated Rewards Program: One Membership. Four Brands
Highlight: Gap Inc. announced the launch of a new integrated Rewards program across the U.S. and Puerto Rico: One Membership. Four Brands. The new program will simplify and streamline how members can earn and redeem their rewards within our four brands by combining the previous credit card and loyalty programs under Navyist Rewards, Gap Good Rewards, Banana Republic Rewards, and Athleta Rewards… “Our goal is to turn our customers into lifelong loyalists by reimagining our Rewards program and creating unique, personalized experiences that will make it easier to shop, earn and redeem rewards across our family of brands,” said John Strain, Chief Customer, Digital and Technology Officer at Gap Inc. “We’re excited to build on the success of the loyalty program launched last year, which incorporates customer feedback to create an incredible experience for our members.”
Mister Car Wash on track to double market share from about 5% as loyalty program gives it a competitive edge, analysts say
Highlight: Mister Car Wash Inc., the only pure-play car wash company on public markets after an initial public offering in late June, is expected to easily grow market share, thanks to a strong loyalty program and low costs, analysts said Tuesday… At BMO, analyst Simeon Siegel agreed, assigning the stock an outperform rating and $25 price target, on expectations the biggest U.S. car wash operator will grow its market share beyond the current more than 5%, by integrating companies it has acquired, through greenfield developments, and growing membership of its loyalty program, Unlimited Wash Club, or UWC. UWC had 1.4 million members when the company filed its IPO documents. That has ensured that more than 60% of the company’s revenue are recurring, as Chief Executive John Lai told MarketWatch the day the stock started trading.
Del Taco plans September launch of Del Yeah loyalty program
Highlight: Del Taco Restaurants Inc. will be introducing its first loyalty program in September under the Del Yeah rewards banner, the brand’s CEO said Thursday… Digital innovation has been among sale-driving initiatives for the brand, said John Cappasola, Jr., Del Taco’s CEO and president. “Our Del App membership continues to grow and provide us with a solid foundation for our new holistic CRM [customer relationship management] platform launched this September that will further digitize Del Taco and incentivize and reward fans for their loyalty,” he said... The digital innovation comes as Del Taco has begun to see signs of inflation in the supply chain, a cost that was flat in the second quarter. The company has taken a 4% menu price increase.
LOYALTY STRATEGY NEWS:
Bond Introduces a New Loyalty Paradigm
Highlight: After a decade, plus one very unusual year, The Loyalty Report 2021 identifies the key metrics that are the strongest predictors of higher share of wallet from customers: “I am loyal to the program” (29% of consumers strongly agree) and “I am loyal to the brand” (30% strongly agree), as well as a new variable grounded in relationships: “brand is loyal to me” (only 20% strongly agree). The measure is based on the notion of “customership,” which recognizes that customer-centricity translates to customer loyalty when the Brand shows loyalty to the customer, rather than the legacy paradigm of Brands expecting customers to show loyalty to them first. “After a year unlike any other, we’re excited as The Loyalty Report 2021 provides a clear blueprint for Brands looking to lead or challenge the leaders amid the new loyalty paradigm,” says Phil Rubin, Executive Vice President, Global Insights & Strategic Partnerships, Bond.
RETAIL NEWS:
Retail Tech Investments Hit Another High in Second Quarter
Highlight: The latest State of Retail Tech Q2’21 Report from CB Insights is eye-opening as researchers at the firm noted investments in retail technology hit another record in the second quarter. The authors of the report said funding jumped 4 percent quarter to quarter, climbing to $31.5 billion — which is more than triple the investments made in the same period last year. The analysis of the numbers concludes that the ongoing burst of funding in retail tech is due to solving near and long-term challenges. “Immediate issues like the labor shortage are intensifying the need for automation, from store shelf tracking to self-driving delivery trucks,” the researchers said. “Meanwhile, big tech companies and start-ups alike are pushing ahead with tech to enhance mobile shopping. In the longer term, the potential for tech like blockchain to transform the supply chain, customer loyalty and product development is growing.”
Taboola acquires Connexity to help publishers push into ecommerce
Highlight: Taboola’s publishers will be able to tap into a growing source of revenue. Ecommerce is one of the few areas publishers are still seeing revenue potential: When US publishers were asked what they expected their largest source of revenue would be in Q1 2021, more than a third (36%) named ecommerce, making it the top-ranked choice, according to a December 2020 survey by Lotame. Some 62% ranked it at least in their top three. The hope is the partnership will give publishers more viable alternatives to the walled gardens of Facebook and Google, especially as the latter moves to deprecate third-party cookies by the end of 2023. Connexity’s retail clients that want to diversify their channel mix will have even more options. “Amazon has millions of merchants, but merchants mainly have Amazon,” said Taboola CEO Adam Singolda in the acquisition announcement.
PAYMENTS NEWS:
GRUBBRR Enables The Chicken Shack Continued Quick-Service Success
Highlight: GRUBBRR, the leading innovator of self-ordering technologies, has just announced the expansion of an exclusive partnership with The Chicken Shack as the chain aggressively expands throughout North America. Designed to maximize profit, improve restaurant efficiency and increase customer satisfaction, GRUBBRR’s self-ordering technology has proven pivotal in the explosive expansion of The Chicken Shack. “The Chicken Shack has had amazing success partnering with GRUBBRR,” Chicken Shack franchisor, Jonathan Vitt said. “Our locations immediately cut labor costs, increased revenue and streamlined workflow, and the experience is far better for our customers, all thanks to GRUBBRR’s ecosystem of solutions.”
Loyal Patron and Waitbusters Announce Partnership to Bring Restaurants a Unified Loyalty Solution for Online Orders, Pickup and Dining In
Highlight: With customer loyalty through recurring visits, and online ordering and sales a basis for a thriving business, restaurant industry owners are searching for simple one-stop solutions to handle all of their customer relationship needs. This partnership combines Loyal Patron’s unique Stored Value Programs such as eGift, Gift Cards, and Loyalty/Rewards, and marketing tools, like Surveys, Guest Wi-Fi, and Mobile Text Messaging, with Waitbusters’ progressive features, namely Online Ordering Support, Wait line Management, and Reservations Management… “As we emerge from Covid, we see trends where customers increasingly want the ability to earn and redeem rewards from the same loyalty balance no matter how they place their orders, whether it be take out, dine in or online.” adds Adam Miller, CEO of Loyal Patron, “With the Waitbusters’ partnership, we can deliver a unified loyalty experience while simultaneously helping operators grow their marketing lists, and increase repeat and referral business.”
DATA & PRIVACY NEWS:
Ransomware key to unlock customer data from REvil attack
Highlight: US IT firm Kaseya - which was the first to be targeted earlier this month - said it got the key from a “trusted third party”… Kaseya’s decryptor key will allow customers to retrieve missing files, without paying the ransom. The "supply chain" attack initially targeted Kaseya, before spreading through corporate networks which use its software. Kaseya estimated that between 800 and 1,500 businesses were affected, including 500 Swedish Coop supermarkets and 11 schools in New Zealand. After the attack at the beginning of July, criminal ransomware gang REvil demanded $70m worth of Bitcoin in return for a key that would unlock the stolen files. But members of the group disappeared from the internet in the days following the incident, leaving companies with no way of retrieving the data until now.
Florida DEO warns of unemployment data breach
Highlight: Malicious actors may have stolen personal information, such as social security and bank account numbers, in a data breach of Florida's beleaguered unemployment benefits system, the state's Department of Economic Opportunity said Friday. The agency announced the data breach in a letter sent to impacted people. The letter said malicious actors may have stolen personal information over a more than month-long period between April 27 and July 16. DEO said the breach was discovered July 16. “Information contained in your claimant account may have been accessed, including the following: Social Security Number, driver’s license number, bank account numbers, claim information, and other personal details, such as address, phone number, and date of birth,” the DEO letter states. “In addition, the malicious actors may have acquired the PIN you use to access your CONNECT account.”
TRAVEL & HOSPITALITY NEWS:
Coco Collection Selects Cendyn To Power Their CRM And Loyalty Programs
Highlight: Cendyn, the leading innovator in CRM, sales, and revenue strategy for the hospitality industry, is excited to announce Coco Collection has selected Cendyn to power their CRM and loyalty program across the Collection’s portfolio of boutique luxury resorts in the Maldives… “At Coco Collection, we excel at providing one-of-a-kind guest experiences immersed in the beauty and culture of the Maldives. We’re excited to work with Cendyn and their CRM technology to evolve our offerings and create even more unforgettable experiences for every guest. This collaboration will also enable us to offer a personalized and dynamic loyalty program that is completely unique to Coco Collection.” said Hussain Hilmy, Co-Founder and Board Director at Coco Collection.
Did you miss last week's newswire? Stay informed: Loyalty Newswire – July 19th, 2021
The Loyalty Newswire is compiled and edited by the staff at The Wise Marketer.
