To ensure first-party data stays fresh, retailers need to keep customers engaged in membership programs by identifying which features or services are most valuable.
As prices for goods and services increased from 2022 to 2023, so did the percentage of US adults that cited discounts as the leading reason they participated in a loyalty or reward program, according to February 2024 data from Merkle. However, the percentage of customers who wanted free products decreased, as did those who wanted access to exclusive rewards.
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