Different industry sectors take a different approach to loyalty programmes. For instance, coffee shops and fast-food establishments have virtually always rewarded clients for every tenth or so transaction, whereas fashion and cosmetic companies frequently emphasise experiential marketing and interacting with customers outside of the buying cycle. On the other hand, mall loyalty programmes weren’t too common. A cross-brand loyalty programme for malls may be the difference that mall owners are searching for because it draws customers in while also creating an unforgettable experience. Today’s consumers are looking for experiences to enrich their lives.
What Are Loyalty Programs at Shopping Malls?
Shopping mall loyalty programmes are typically thought of as incentive systems where customers can accrue points for in-store purchases and for visiting mall services like restaurants and beauty parlours. The program’s cross-brand nature appeals to customers because they may accumulate points by placing a food order and then use those points to receive a discount on a haircut. Therefore, it is generally agreed upon that the more services and brands included in the programme, the better.
Mall loyalty programmes’ objective
Mall reward programmes are very different from conventional loyalty programmes that are rooted in retail. The mall’s objective is to draw as many visitors as possible and make sure they have a good experience. Malls want all these customers to return and rely more on their offerings. In other words, the amount of traffic affects how much money is made.
Because of this, mall loyalty programmes ought to put an emphasis on offering members perks that are constant across all stores and a superior overall experience.
Convenience Is Important
Convenience is a key feature of reward schemes at shopping centres. Customers have little patience for wait times at the desk. Although they like the idea of getting rewards, if the admin process takes too long, they would prefer to forgo it. Long queues would be problematic for workers and would make for a lousy experience overall.
As a result, the following objectives should be pursued through the integration of mall loyalty programmes:
Be quick and smooth across all locations and offerings.
Work with each and every phone, credit card, and store
Keep your distance; it’s not only safer but also more practical.
Give tenant brands more value so they become a benefit to the mall rather than a pain point.
What Is a Coalition Loyalty Program, and Why Are Malls the Ideal Setting for It?
Making a loyalty programme into a coalition loyalty programme that brings together various unconnected companies under one roof is the easiest method to make sure it fulfils all the requirements of shoptainment. In a coalition loyalty programme, all partners share the loyalty currency, but each brand determines the benefits it will offer and how easily accessible those awards will be on its own.
A single business (in this case, the firm in charge of the mall) develops a coalition loyalty programme, which is then made available to a number of tenant businesses. The program’s owner controls and supervises the entire operation. They attract interest to the programme itself rather than the participating brand, which is one of their key characteristics.
In the case of malls, tenants profit from the loyalty program’s general popularity because it brings in more customers who subsequently spend more time at the establishment. Additionally, because all participating brands are gathered in one location, customers won’t miss out on any of the promotions.
places to go shopping and have experiences
As you can see, shopping malls, plazas, and shopping centres are excellent fits for mall loyalty programmes, and coalition loyalty programmes in particular. With such a carefully thought-out customer retention strategy, malls may considerably boost foot traffic, promote service consumption, and encourage customers to interact with tenant businesses for longer periods of time.
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Don’t forget to download Antavo’s Global Customer Loyalty Report 2022, a comprehensive report that provides you with guidance as you traverse the world of next-generation loyalty programmes by showcasing a number of statistics as well as upcoming market trends.