How retail marketers should approach customer loyalty in the age of Temu and Amazon
Customer loyalty is becoming harder to earn and easier to lose. But what does the research say when it comes to loyalty? What is the adoption and impact of loyalty programs? And just how daunted should retail marketers be about Amazon?
Karlie Taylor, head of marketing at SHOPLINE Australia, looks at the data.
Only three industries contribute more to Australian GDP than retail.
Almost one-and-a-half million Australians work at over 155,000 businesses, who serve the entire nation; whether bespoke family-run retailers, luxury brands or supermarket giants. In a competitive, saturated field – and against the backdrop of persistent economic pressures – customer loyalty is becoming harder to earn and easier to lose. That is especially true as global behemoths like Amazon, Temu and Shein continue to increase their investment, and subsequently, their market share in Australia.
As competition increases, customer retention becomes even more crucial for the medium- to long-term health of a business. However, the way retailers approach retention and market to their existing shoppers differs drastically by business size, according to new SHOPLINE research. Our Unified Commerce Benchmarking Study sought to understand how retail business owners, decision-makers and marketers are approaching 2024. But what did the research find when it comes to loyalty? What is the adoption and impact of loyalty programs? And just how daunted should retail marketers be about Amazon?
