Report: Canadian Consumers’ Loyalty Preferences Changing, New Approaches Needed
December 08 2017 - 5:30AM
A new report released today by Eagle Eye, a leading SaaS technology
company that allows businesses to create a real-time connection
with their customers, upends conventional assumptions about
Canadian consumers and their relationship with brand loyalty, and
highlights the importance of getting loyalty right for brands and
retailers in the Canadian marketplace.
The report is set against the backdrop of a shifting loyalty
market in Canada, one that is experiencing the fragmentation of
legacy loyalty programs like Air Canada and Aeroplan and subsequent
consolidation of major retailers’ loyalty programs, like the recent
fusion of the Loblaws and Shoppers Drug Mart initiatives into the
PC Optimum program. Eagle Eye’s report, Shifting Loyalties,
illustrates the pitfalls of mis-executing loyalty, as reflected in
the surprising finding that 87% of Canadians currently
belong to just five loyalty programs or fewer.
Based on a survey conducted by Eagle Eye/Ipsos of 2,000 Canadian
consumers, the report also contrasts the attitudes and behavior
toward loyalty programs between different generations of Canadian
consumers: Millennials, Generation X, and Baby Boomers. Other key
statistics include:
- 45% of Canadians have quit a loyalty program,
and among those who do quit, 57% shop less or quit
shopping with the brand altogether
- 83% of Millennials support loyalty’s shift to
the mobile environment, as do 64% of Gen X and
34% of Boomers
- 45% of consumers expect personalized offers
and communications in exchange for sharing personal data
These and other findings within the report indicate a growing
interest across all consumer groups for loyalty experiences and
rewards that are personalized, valuable, easy-to-use and delivered
in real time. Millennials (18-34) are raising expectations for
data-driven, digital loyalty experiences, while Generation X
(35-54) and Baby Boomer (55+) consumers – two demographics that
deliver palpable spending power – are increasingly open to mobile
technologies and social media influence.
For brands and retailers across Canada, the report offers
several prescriptions for data-based engagement strategies that
will resonate with Canadian consumers. These include an embrace of
digital and mobile earning and redemption options, the ability to
leverage data to create personalized offerings and communications,
and using non-transactional rewards to foster emotional
loyalty.
According to Eagle Eye CEO Tim Mason, the results of this
consumer survey represent a significant opportunity for retailers.
“The Canadian loyalty market is clearly shifting, while the value
of customer data is increasing,” he says. “Brands that can create
data-enabled, 1-to-1 interactions with their customers through
their loyalty programs and engagement strategies will position
themselves for significant competitive advantage.”
Eagle Eye, a London-based company with a growing presence in
Canada, previously released a survey on loyalty in the United
Kingdom that reinforced the importance of data in developing
customer insights needed to drive effective loyalty programs and
customer engagement.
“Loyalty programs, along with the wealth of customer touchpoints
facilitated by consumer technology, yield a goldmine of data,”
explains Mason. “From these surveys, we’ve learned that using data
to develop a holistic customer view, and creating personalized,
relevant experiences is the most advantageous and financially
rewarding approach brands can take.”
For more information about Eagle Eye’s survey findings and the
Canadian loyalty landscape, or to speak with Eagle
Eye CEO Tim Mason, please contact Vanessa Horwell
at vhorwell@thinkinkpr.com. For more information about Eagle
Eye, please visit www.eagleeye.com.
About Eagle EyeEagle Eye (LSE: EYE) is a
leading SaaS technology company that allows businesses to create a
real-time connection with their customers. The Company's digital
marketing platform, Eagle Eye AIR, enables the secure, real-time,
multi-channel issuance, management and redemption of digital
promotions and rewards, replacing previously used paper-based
methods. Eagle Eye’s platform creates a network effect between
merchants, distributors and brands enabling stronger connections
and value to all parties. With these capabilities, Eagle Eye
enables brands and merchants to reduce cost, improve their customer
offer and accelerate their innovation.
The Company's current customer base comprises Canada’s food and
pharmacy leader Loblaws as well as leading names in UK grocery,
retail and hospitality including John Lewis, Asda, J Sainsbury,
Greggs, JD Sports, Ladbrokes, Marks & Spencer, Mitchells &
Butlers, Pizza Express, Tesco and Thomas Pink. Visit
www.eagleeye.com to learn more.
MEDIA CONTACT:
Vanessa Horwell, ThinkInk
+1.305.749.5342 x 232
vhorwell@thinkinkpr.com
Eagle Eye Solutions (LSE:EYE)
Historical Stock Chart
From Apr 2024 to May 2024
Eagle Eye Solutions (LSE:EYE)
Historical Stock Chart
From May 2023 to May 2024