Vesdia, a provider of loyalty marketing services, has announced the continued growth of its merchant-funded loyalty rewards network, with the addition of shopper rewards with ADT Home Security by Security Choice, DirectTV, Hard Rock Cafe, and Golfsmith.
Vesdia's merchant network now includes more than 60 bricks-and-mortar and catalogue merchants (representing over 150,000 locations), 100,000 grocery and drug store locations, 8,500 restaurants, 200 gift cards from popular retail brands, and over 600 online merchants offering rewards of up to 30%.
The loyalty platform
Vesdia's loyalty platform enables cardholders to receive merchant-funded rewards of up to 30% in any reward currency on everyday purchases made through the company's network of thousands of national and local brick-and-mortar stores and online retailers.
Vesdia's loyalty solutions can be set up either as a full service, standalone loyalty programme, or any of the components can be integrated into an existing loyalty programme.
Programme benefits
Among the benefits of the loyalty offering, card issuers have reported improved card performance and customer participation, acquisition and activation rates increasing by up to 14%, monthly card spending increasing by up to 13%, spending with in-network merchants increasing by up to 35%, out of network spend increasing by up to 4% (a 'halo effect'), and reduced cardholder attrition.
According to a report by the Aite Group, it is estimated that some US$64 billion in purchases will be made at US retailers that participate in merchant-funded financial institution reward programmes by 2010. "Successful loyalty programmes that both differentiate card issuers in the marketplace and maximize the cardholder's perceived value will become increasingly financially important to both issuers and their customers," noted Aite Group analyst Adil Moussa.
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