Best Buy's $200 Membership Program Poised to Be 'Big Hit': Clarus
Best Buy’s rejiggered loyalty program, now called Totaltech (see 2110050058), is poised to be a big hit, blogged Clarus Commerce Loyalty Content Specialist Jim Tierney Friday. Tierney cited the timing of the $199 program’s release, just before the holidays, noting…
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82% of consumers begin their holiday shopping in November or earlier. Clarus’ holiday shopping survey said 38% of consumers planned to buy CE products this season, and 81% of consumers shop with brands during the holiday season because they're members of their loyalty programs, he said. Eighty percent of consumers are more likely to sign up for a retailer’s loyalty program during the holidays if it means they will earn additional discounts throughout the year, while creating emotional connections with customers during the period can build brand loyalty "that lasts throughout the year." Some 51% of brands with premium loyalty programs say members are four times as valuable as non-members, he said.