New research into retail loyalty programs reveals Australians are suffering from 'loyalty fatigue'.
The report, available in full for ragtrader.com.au readers, details the outcomes of the research as well as advice on building successful loyalty programs.
Some key findings include:
• More than 80 per cent believe unless there is a discount, the loyalty program is not worth signing up for but it needs to be a long term discount or value. Less than 30 per cent sign up for short term benefits.
• More than half of do not read and unpersonalised communication. Australians are demanding brands demonstrate just how well they understand them.
• One in three Australians have previously opted out of loyalty programs – they’re not shy about severing ties with a brand that does not effectively engage or provide them with value.
• Some 54 per cent of Australians don’t understand the terms and conditions of the programs they join.