Today, I read an article in Drug Store News which cited a recent Nielsen study about the effectiveness of loyalty programs on consumers. The findings, which say it all in the article’s title, conclude that “84% of shoppers gravitate towards retailers with loyalty programs.” I am not surprised at all. While loyalty programs are a boon for for retailers seeking consumer data, it is also the wise, frugal-minded shopper who likes acknowledgement for their shopping habits. Loyalty can stop short, however, when the right enticement happens.
Just yesterday, Wal Mart announced that they will be offering “Black Friday” deals beginning at 6pm on Thanksgiving. This measure may just push some consumers to re-think their Thanksgiving plans in order to rack up Black Friday deals even earlier. And, while they might have waited until actual Black Friday to shop, their store loyalty might be tested with this announcement. Except other retailer to follow suit.
Attention Shoppers, Loyalty Programs May Mean Less This Holiday Season
I imagine that there will be a considerable amount of market research and surveys performed after this holiday season to see if moving up the shopping season paid off for retailers. Still, you may want to wait until well after the holidays to shop. That’s when remaining products really start to move off shelves.