A retail expert from Europe speaking at a high-profile retail conference in Sydney last week declared traditional loyalty is dead, people want instant gratification. In the Tower Systems POS software retailers have the opportunity for instant gratification.
Data from a range or retail businesses using the Discount Voucher facilities within the Tower Systems POS software report 33% engagement on the day of issue. Most often, these customers are not regulars, they are infrequent visitors who look for opportunities to leverage the value of the reward in that visit.
Tracking shopper behaviour we can see that those spending the reward tend to spend equal to or more than the initial purchase value. A further 20% spend on a third item or basket, further extending the value of the reward.
We are thrilled to see retailers enjoying double digit year on year growth as a result of their use of the Discount Voucher facilities. The voucher reports, sales data and business P&Ls we see show this approach is profitable and valuable for the longer term prospects of the business.
The Discount Voucher facilities fit with the model of loyalty promoted by the recent retail experts speaking in Sydney.