Retail Report: Optimizing Loyalty Programs and Product Reviews Can Increase Brand Loyalty

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Nov 11, 2015, 08:45 ET

ANN ARBOR, Mich., Nov. 11, 2015 /PRNewswire/ -- Loyalty programs and product reviews are standard offerings in today's retail world, but a company's ability to match those services to the demands of an increasingly discerning customer base will drive brand loyalty and advocacy.

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For the November 2015 Retail Report released today, eBay Enterprise and CFI Group surveyed 500 consumers about their shopping experience. The results underscore not only the significance of a comprehensive web presence, but also the importance of understanding what consumers expect from online offerings.

"Technology has given consumers the power to demand a convenient online shopping experience, which includes valuable loyalty programs, product descriptions, FAQs and impartial customer reviews," said CFI Group CEO Sheri Petras. "Retailers that meet those demands while making them mutually beneficial will set their company apart from the competition."

Two of the key takeaways from questions about loyalty programs:

An overwhelming amount (91 percent) of respondents cite the ability to receive special promotions as the reason for signing up for loyalty programs. While consumers could select multiple factors, no other was mentioned more than 41 percent of the time.
While 80 percent of respondents have signed up for loyalty programs, consumers' most frequent reason given for not signing up for specific programs is insightful: 56 percent cite a concern about disclosing personal information. Limiting that exposure will attract more participants.

The importance of customer product reviews is also evident, with 93 percent of respondents calling them an influential factor in their purchasing decision. One quarter of those customers go specifically to a retailer or brand website to find those reviews, making it imperative for retailers to have product information and customer reviews readily available.

For more details from the November 2015 Retail Report, visit cfigroup.com.

About CFI Group (www.cfigroup.com)

Founded in 1988, CFI Group delivers customer experience measurement and business driver analysis from headquarters in Ann Arbor, Michigan and a network of offices worldwide. The founding partner of the American Customer Satisfaction Index (ACSI), CFI Group uses patented technology and top research experts to help companies maximize return-on-investment by analyzing every aspect of the customer experience, identifying key business drivers, benchmarking performance, interpreting results, and recommending key areas for business improvement.

About eBay Enterprise:

eBay Enterprise is a leading global provider of retail-optimized commerce solutions, including order management, fulfillment, store-fulfillment, freight, customer care, and payments, tax and fraud solutions. The company enables brands and retailers of all sizes to deliver consistent Omni-channel experiences across all retail touch points to engage customers, deliver products with speed and quality and provide exceptional service. With unrivaled flexibility and control, clients are armed to accelerate sales growth and win with today's connected consumer.

Media Contact:

Rich Rezler
Rezler Communications for CFI Group
Email
(734) 358-1910

SOURCE CFI Group