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Revamping Value Retail's Loyalty Programme: A Case Study
Applicable Industries
- Cities & Municipalities
- Retail
Applicable Functions
- Product Research & Development
Use Cases
- Retail Store Automation
- Theft Detection
The Challenge
Value Retail, a company specializing in the development and operation of luxury outlet shopping destinations, was facing a significant challenge with its loyalty programme. The programme was failing to meet its primary objective of guest data capture. The main issue was a perceived weak connection between guest behaviour and the rewards offered by the programme. This disconnect was leading to a lack of engagement from customers, which in turn was affecting the effectiveness of the loyalty programme. The company needed a solution that would not only improve data capture but also strengthen the link between customer behaviour and rewards, thereby enhancing customer loyalty and engagement.
About The Customer
Value Retail is a company that specializes in the creation and operation of luxury outlet shopping destinations. The company's business model is centered around providing a unique shopping experience for its customers, which includes a loyalty programme designed to reward customer engagement and loyalty. However, the company was facing challenges with its loyalty programme, which was failing to meet its primary objective of capturing guest data. This was largely due to a perceived weak connection between guest behaviour and the rewards offered by the programme.
The Solution
Iris, a global creative innovation network, was brought in to lead the loyalty proposition development from end-to-end through to launch. The solution involved several key steps. First, Iris worked on the proposition concept design, which involved creating a new structure for the loyalty programme that would better align with customer behaviour. Next, they conducted a commercial analysis and risk mitigation to ensure the new programme would be financially viable and sustainable. Iris also developed business and functional requirements, a contact strategy including customer journeys and use case planning, and an internal and customer-facing launch strategy and communications plan. They also set up a Village brands engagement strategy, KPI setting and measurement framework, and partnerships development. The revamped loyalty programme was first launched in a pilot village in Paris in June 2018 to test the concept and drive programme optimisation and further personalisation.
Operational Impact
Quantitative Benefit
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