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
Research Assistance
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