youth shopper loyalty: will that be points or discounts?
DESCRIPTION
Are Youth Shoppers Loyal? Young shoppers are the most desirable yet elusive group of consumers. Companies and loyalty programs are daily challenged to find solutions on how to extend the life time value of customers by attracting them at a younger age. In this presentation the key insights of SPC Card’s The Pulse of the Canadian Student Shopper Report 2013 are revealed. Some key findings include: • 45% of Canadian student shoppers believe that loyalty programs for people their age need to involve social media connections and community • 55% of Canadian student shoppers would consider checking in at various participating retailers in exchange for points, rewards and discounts • 33% of Canadian student shoppers wish loyalty programs offered more of an experience rather than just discounts • 62% of Canadian student shoppers would consider converting points or rewards into credits to pay down obligations like a monthly cell phone plan or a student loanTRANSCRIPT
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WILL THAT BE POINTS OR DISCOUNTS?
HOW TO ATTRACT YOUNG SHOPPERS AND KEEP THEMNicholas BianchiLoyalty CanadaJuly 24, 2013
Hilton Toronto Ontario
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WHAT WILL I BE TALKING ABOUT?
What is SPC Card?
Loyalty and Me
Youth and Loyalty: Perplexing Questions
The Pulse: Basics
The Pulse: Insights and Recommendations
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LAW OFYOUTHDISREGARD?
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$1,350,000,000,000
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PERPLEXINGQUESTIONS
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THESEARE YOURFUTURECUSTOMERS
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WTF ISA REWARDPOINTWORTH?
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WHAT DOES COLLECTING REWARD POINTS REALLY MEAN TO ME?
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HOW LONGBEFORE IEARN ENOUGHPOINTS TOREDEEM FOR…
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…A TOASTER.
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THE PULSE
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Canadian youthshoppers, ages 14-24,are members of at leastone loyalty program
LOYALTY MEMBERSHIP
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COALITION PROGRAMS
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PROPRIETARY PROGRAMS
PROPRIETARY PROGRAMS
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When a retailer offers a loyalty program, I know they want to offer me the best deals
BRAND LOVE
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INSIGHTSAND RECOS
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Prefer getting instant discounts versus collecting points
MIX IT UP
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Wish loyalty programs offered more of an experience rather than just discounts
GET EXPERIENCED
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Hardly ever redeemtheir points
MAKE THEM REDEEMERS
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Problem with most loyalty programs is that they aren't very good at providing benefits or rewards quickly enough
GET FASTER
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Unclear about the value of reward points and often find them confusing
BE CLEAR
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Don’t find communications I get from loyalty programs to be very relevant
BE RELEVANT
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Consider converting points or rewards into credits to pay down obligations like a monthly cell phone planor a student loan
BE REALLY RELEVANT
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Consider contributing reviews or comments online in exchange for points, rewards or discounts
TRADE UP
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Like the idea of pooling points or rewards with friends and family as a route to bigger rewards,steeper discounts, etc.
LET THEM SHARE
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Consider providing personal preferences to a loyalty or rewards program in exchange for more targeted and relevant advertising and offers
BE ON TARGET
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Consider volunteering time to a cause or charity in exchange for points, rewards or discounts
CAUSE IT
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Consider driving my friends to shop in a given time period at a given store in exchange for points, rewards or discounts
BE FRIENDLY
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Consider converting points or rewards into ballots for daily contests to win trips, tickets and merchandise
HAVE FUN, PLAY GAMES
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WIN $10,000 WIN $10,000
AMAZING PRIZESAMAZING PRIZES
PLAY GAME!THE
AND OTHER
GRAND PRIZE PROVIDED BY
YOU COULD
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