PUBLISHER: IDC | PRODUCT CODE: 1577764
PUBLISHER: IDC | PRODUCT CODE: 1577764
IDC PeerScape: Retail Practices for Implementing Loyalty Applications
"Loyalty is a key differentiator for customer retention. It turns the value of convenience into a test for customer satisfaction and enables for consent-based trusted relationships with customers," said Ornella Urso, research director, IDC Retail Insights. "Implementing a robust loyalty platform is essential for retailers seeking to enhance customer experience and drive profitability. By addressing challenges in data integration, privacy, and continuous optimization, retailers can deliver personalized and secure experiences that foster long-term customer loyalty," said Cristiano Quattrini, senior associate advisor, IDC Retail Insights
IDC PeerScape Figure
Executive Summary
Peer Insights
- Practice 1: Use Robust API Integration for a Unified Customer View
- Challenge
- Example
- A Footwear and Accessories Retailer
- Guidance
- Practice 2: Implement Security Protocols and Manage Customer Consent
- Challenge
- Example
- A U.S.-Based Retailer
- Tesco
- Guidance
- Practice 3: Analyze Data, Personalize Rewards, and Adapt Strategies Using Advanced Analytics
- Challenge
- Example
- LuisaViaRoma
- Sephora
- Guidance
- Practice 4: Invest in Scalable AI Platforms and Train Staff to Use AI Tools Effectively
- Challenge
- Example
- A Europe-Based Beauty and Personal Care Retailer
- Gucci
- Guidance
- Practice 5: Select Secure Blockchain Platforms, Create Engaging Game mechanics, and Regularly Update Rewards
- Challenge
- Example
- Nike
- adidas
- ASDA
- Guidance
