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Functionality Of Customer Loyalty Programmes In Retail

Author

Listed:
  • Ivana Plazibat

    (University of Split)

  • Toni Susak

    (University of Split)

  • Tadija Saric

Abstract

Consumer loyalty is a concept that attracts more and more attention in the contemporary business world. Loyal customers buy more often, spend more and usually become the companies' advocates through „word of mouth“ marketing. For these reasons retailers today strive for an effective way to improve consumer loyalty. The main question is ''What can we do to win new and keep the old customers?“. To be successful, retailers must pay attention to the desires and needs of their customers. The relation retailer-consumer is the key for success, and ta way of creating it is consumer loyalty programme. This paper analyzes consumer loyalty programmes' capacity to create and build loyal customers, and whether loyal customers are even worth investing in. Efforts will be made to investigate how the loyalty programmes affect other aspects of business through gathering important information about the desires and habits of consumers. In this paper attempt will be made to answer the question if the consumer loyalty programmes could help retailers in acquisition of new customers, creation of new sales concepts or redefinition of their approach to consumers.

Suggested Citation

  • Ivana Plazibat & Toni Susak & Tadija Saric, 2016. "Functionality Of Customer Loyalty Programmes In Retail," Economic Thought and Practice, Department of Economics and Business, University of Dubrovnik, vol. 25(1), pages 303-318, june.
    • Handle: RePEc:avo:emipdu:v:25:y:2016:i:1:p:303-318
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    More about this item

    Keywords

    loyalty programmes; consumer loyalty; efficiency of loyalty programmes;
    All these keywords.

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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