We partnered with Cebr to survey a large sample of UK consumers and senior decision makers in the world of retail to research the value of incentives and rewards from both a business and consumer perspective.
In this report, we'll delve deep into the changing behaviour of consumers, highlighting the challenges facing the sector and strategies adopted to retain customers. We also provide a comprehensive outlook of the retail landscape, forecasting for the years ahead for several important economic indicators.
Some of the key findings of this report are:
- Almost a third (31%) of retailers currently use rewards programmes as a way to boost customer retention, while a further fifth (20%) considered rolling out such a scheme over the past twelve months.
- Six in ten consumers believe rewards programmes are relevant to their retail shopping experience. Consumers that use rewards programmes were more likely to state they were now more actively looking for better deals online, seeing a 62.4% share compared to 34.6% of non-rewards users.
- 84% of the population believe that the behavioural shifts witnessed over the last year will become long-term changes