What is the Monday Morning Coffee with Spaycial? Every Monday morning, our editorial team brings you 5 need-to-know news from its weekly readings, to read in less than 5 minutes.
What's on today's menu?
1. Valentine's Day Shopping is still a thing
We surely weren't going to kick this one off without a word about Valentine's Day shopping ! Two trends we see emerge for this sentimental shopping event, are that "shoppers are preparing to buy unique gifts" and "a growing number of Valentine’s shoppers are happy to look online for secondhand gifts". Of course, Valentine’s Day online sales are booming with hundreds of thousands of bouquets being prepared for delivery, reminds Internet Retailing. Hence, for retailers, it is still a big day to target their members with personalized offers and benefits.
2. "Seeing the bigger picture in transaction data"
Speaking of Valentine's Day, we fell in love with this Fintech Magazine article telling us "Retailers can use the insights from transaction data (or payment data as we call it) to see how their businesses are growing and provide a more personalised shopping experience. A company might utilise customer purchase history to offer tailored discounts on their next visit and boost sales." Our business model is built on this type of data-driven personalisation. Let's take a look at it!
3. Personalization, Prediction, Omnichannel
We're delighted to read this Forbes piece insisting these still are the 3 key words of 2022 when it comes to retail : personalization, prediction, omnichannel. Because anticipated 2022 digital retail trends are all about innovations in perfecting personalized omnichannel shopper experiences.
4. The new power of loyalty programs for brands
One of this trends is the focus of an article by CMS Wire. According to them, brands offering loyalty programs to their shoppers "would do well to concentrate on personalization and focus on building more meaningful consumer relationships that go beyond special offers." Interesting as well is this statement that, in a cookieless era, "loyalty programs can encourage sharing of that data." Finally, “Loyalty programs enable the collection of valuable shopper data through its touchpoints that can be used for segmentation”.
Have you read this futuristic piece on our blog ?
"Payment data in a Cookieless World"
5. How cashback and loyalty programs run on affiliate networks
Very interesting read on Entrepeneur.com, on how cashback and other shoppers' benefits can drive revenue growth for retailers doing affiliate content partnerships with publishers. Furthermore, "activating cashback rewards during an online purchase increases the likelihood of the customer completing that purchase. When a shopper activates a cashback incentive at the start of a shopping journey, it acts as a magnet, drawing the customer from the first click to a converted sale."
You can also read on that topic : Offering Rewards to Shoppers with Westfield