How Loyalty Impacted the Start of Your Holiday Shopping Season
Summary: How is loyalty driving your bottom line this holiday season? Opening weekend numbers are in and you’ve been busy! In fact, bLoyal connected merchants processed more than 500 million dollars in loyalty-based transaction on Black Friday, alone. In total, loyalty accounted for fully 37% of your overall revenues during this year’s opening weekend.
Measuring Your Holiday Shopping Season
Let’s cast a wider net, though. To start, you sent out over 6.6 million holiday themed email marketing messages – a new all-time high. You leveraged the increase in holiday foot (and mouse) traffic to onboard approximately 51,000 new members. And you added approximately 20,000 new subscribers to your loyalty and direct-to-consumer club programs.
Shoppers engaged with loyalty programs at the store, through your business’ website, mobile applications, social media, text, and more. As is expected, brick and mortar and webstores represented a bulk of the overall transactions, but application-based transactions through the bLoyal SDK increased about 40%.
While many merchants relied solely on deep, product-based, holiday discounts to attract potential customers, you awarded almost a million points (or similar tokens). Use of these incentives will be a major factor in making sure that you’re able to convert bargain hunters to loyal shoppers, after the shopping season is over. Overall program breakage increased by about 20% in 2017. That means customers are using points collected over the course of the year to amplify their holiday budget. It also means that they’re more likely to return to your store in order to make additional purchases.
eCommerce merchants pulled ahead on Cyber Monday with just over a hundred million dollars in loyalty based transactions through bLoyal’s WooCommerce, Magento, and Shopify integrations: This represents a 60% increase in web-based loyalty transactions, from the previous year.
In all, bLoyal merchants increased average order value by about 22%, across verticals and bumped customer lifetime value by 7%, in one weekend. How did your numbers stack up against the average?
Wondering how to boost seasonal ROI with your bLoyal integration? As the shopping season progresses, we encourage you to check out our “Holiday Loyalty Program Checklist”, where you’ll find some great best practices for making the most out of seasonal traffic, well into the new year. For more great reading and to learn the best ways to measure your loyalty program’s success, year round, read more about loyalty marketing KPI’s and the best ways to expose the data you need.
Stay tuned for our full holiday shopping report (coming in February), where we’ll be providing a full break down of how customer retention strategy impacted your holiday shopping season.
A safe and happy holiday to all our clients and their families. If you’re interested in exploring an omnichannel loyalty program in the new year, contact us for a free demo, today!