The popularity of loyalty programs within the grocery space continues to grow
According to Accenture, 90% of Enterprise Retailers use some form of the loyalty program. Also, members of loyalty programs generate between 12 and 18% incremental revenue growth per year, and companies with loyalty programs grow their revenue 2.5x faster!
As an example, US-based Natural Grocers launched its {N}power membership in 2005. Their program hit 1 million members in August 2019, and grew to 1.3 million members in 2021, and 1.6 million members by QT1 of 2022.
Their loyalty members accounted for 69% of new sales penetration and 73% of the company’s net sales. In addition to that, members who shop on a monthly basis spend around $53 per trip, which is more than twice as much as the $25 non-members spend, according to President Kemper Isely.
There are some brands that appear to hit a sweet spot, but outsiders cannot always understand why some programs manage to have such overwhelming success, while others simply struggle.
Heads of loyalty and marketing teams at grocery retailers are eager to learn more about the DOs and DON’Ts of grocery loyalty programs.
That explains why industry movers and shakers are offering an increasing number of loyalty conferences aimed at helping them make the most of its possibilities.
Why should you attend loyalty events?
Going to retail conferences or events is an important part of being a retail professional. These events can offer a new perspective and they come with multiple benefits.
1. Learning about new trends in the retail industry
Conferences and online events bring together a panel of experts from top level brands. Also, you have the opportunity to hear different guest speakers and learn more about the newest and hottest trends. This is a great way to take the pulse of things, trigger your creativity and know how to tweak your loyalty program using the most up-to-date tactics.
2. Catching up on the latest innovations and technologies
Loyalty management today is data-driven and powered by technology. Retailers have the ability to collect and sync all their customer data in real-time and use this data to launch highly effective campaigns.
Retail-specific events give you the chance to hear about the latest technologies and innovations, and see how they are applied to develop a strong data-driven & omnichannel loyalty strategy with consumers.
3. Networking with your peers
Maybe the most important thing to do when attending these events is to connect with other professionals in your industry. In person events allow for excellent networking opportunities, but don’t dismiss the potential of online conferences too!
Get noticed by guest speakers and attendees by being active in the chat, asking questions, and sharing insights. Follow up on those conversations on LinkedIn and you will build valuable connections for the future.
Ready to Take Action and Learn how Retailers Are Changing Their Loyalty Strategies To Align With Today’s Consumer Challenges?
If you are a Grocery Retail CMO or Head of Loyalty that wants to maximize the potential of your customers.
Watch the limited-time replay here, time is running out fast!We’ were joined by top-level Guest Speakers:
- Mary Pilecki,VP and Principal Analyst at Forrester
- Marta Mimbela, Global Loyalty Lead at Decathlon
- Troy Crites, Customer Engineer at Google
- Guillermo Corominas, Former Chief Client Officer at Mango
- Javier Fernández, CTO & Founder at Loyal Guru
Couldn’t join us? Don’t worry. You still have the chance to watch the limited-time replay here.
