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SOURCE Merchant Warehouse
Despite customer demand, many retailers are failing to use loyalty programs to take full advantage of the $72.9 billion back-to-school shopping season.
BOSTON, Aug. 14, 2014 /PRNewswire/ -- Merchant Warehouse has released their latest update, based on findings from a recent study on back-to-school shoppers and retailing practices. According to the update 85% of back-to-school shoppers return to the same stores yearly, yet 91% would shop elsewhere if a store offered a promotion or reward. However despite these numbers, only 34% of retailers were expecting to leverage a loyalty or rewards program during the 2014 back-to-school shopping season.
The rewards for retailers who participate in these programs are clear. After the winter holiday season, the back-to-school shopping season is the largest shopping season in the US. The average back-to-school spending for families with children in grades K-12 on apparel, shoes, supplies, and electronics is estimated to be $669.28 during 2014, which represents a 5% increase from 2013. In addition to driving increased sales during the shopping season, retailers that implement effective programs can expect to reap additional rewards in the months ahead as loyalty programs can increase a brand's market share by 20 percent and improve customer acquisition by up to 10 percent. To aid retailers in identifying how to best take advantage of these programs, the infographic examines the preferred types of campaigns and rewards that resonate with consumers.
Retailers who are interested in learning more about how to leverage loyalty programs to increase sales this back-to-school shopping season, should visit Merchant Warehouse at http://merchantwarehouse.com/loyalty-programs-drive-back-to-school-shoppers to view the full update.
About Merchant Warehouse
Merchant Warehouse is a leading provider of payment technologies and merchant services. The company's solutions enable merchants to more effectively connect and engage with their customers regardless of how, where, or when they choose to shop. Merchant Warehouse's flagship technology solution, the Genius™ Customer Engagement Platform™, supports both traditional and new payment types, including mobile commerce, from a single countertop acceptance device. Merchant Warehouse is one of the fastest growing payment technology companies in North America.
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