EKN Benchmark: The State of Loyalty in Retail
The template that most of today’s customer loyalty programs follow was designed in the early 1980s, causing retailers to focus on delivering transactional economic value to the consumer. Since then, the concept of a ‘loyal customer’ has become elusive due to changing consumer behavior and broad expansion into new channels. Edgell Knowledge Network’s (EKN) latest benchmark report shows that retailers are struggling with how to drive customer loyalty but expect their loyalty strategies to deliver an increasingly greater percentage of revenue in the coming years. Download this report to learn prescriptive insights including a new framework for customer loyalty in the retail industry.