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"Retailing Lessons from Loyalty Programs Around the Globe" - Research Paper Example
Pages 3 (753 words)
Retailing lessons from Loyalty programs around the Globe Grade course 9 December, 2011 Discuss the CVS Extra Care Loyalty program and if the program is a source of shopper insights, which, can be leveraged in multiple ways in order to succeed…
There are three target market audiences that CVs has created from their retail information system (RIS). The systems are Caroline, Vanessa and Sophie. Each audience identifies and refers to typical CVS customers, and shopper’s insights (Eder2005). The customers are categorized according to age and products that they buy most. Beauty plays a crucial role in CVS’ concept, with the aim of making an enduring connection with the customer at every stage in her life. Caroline in her 20s is new to career, newly married or single and has an active social life. Her main concern is beauty products. Having identified this customer profile, CVS will market beauty products and offer coupons to all customers who join the loyalty program, to attract them back to the store. Caroline will grow into Vanessa who is not consumed into fashion but is after preserving her youthful appearance. Vanessa grows into Sophie, who is, CVS’ most profitable customer. She is a regular pharmacy customer who shops for key OTC items. Maintaining a relationship with clients at every stage of life is crucial to CVS’ long- term profitability (Eder 2005). Accessing data retrieved from the loyalty pro gram enables CVS to create more particular decisions and improve on their services. CVS partnership with the HSBC bank has allowed customers to earn discount savings. ...
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