Frequently Asked Questions

• What is a retail loyalty program?
• A retail loyalty program is a long-term marketing system used by many retailers to motivate repeat purchases and customer retention by offering rewards to shoppers. Rewards can be discounts, special offers, deals, or freebies that can help to increase the lifetime value of a customer with a higher average order value and purchase frequency.
• Why loyalty program is essential in retail?
• Loyalty programs can be beneficial in driving customer retention, which in turn helps retail brands boost revenue, increase referrals and attain overall growth. They help in identifying the most loyal customers, focus your marketing efforts on them and build loyalty campaigns that can increase their lifetime value.
• How do Loyalty Programs work in the retail sector?
• Points-based loyalty programs can be a great tool to collect data from customers, as they can help retailers that have a high purchase frequency to encourage repeat purchases, which will eventually increase revenue.
• What are the top benefits of retail loyalty programs?

• A great loyalty program can bring immense benefits to your retail business such as-

  More Customer Data

  Increase in Product Sales

  Higher Retention

  Build Social Engagement

  Lower Marketing Costs

  Increase in Review Scores

• How Novus Can Help in Building an Effective Retail Loyalty Program?
• Novus Loyalty comes with the best set of features that can help brands create and share meaningful interactions beyond the point of purchase to increase data capture, profitability & retention. Building customized retail loyalty and rewards program helps to engage and strengthen relationships with the most valuable shoppers.
• How can a retail loyalty program help in increasing customer lifetime value?
• A retail loyalty program can increase customer lifetime value by fostering repeat purchases and upselling opportunities. By providing rewards for higher spending levels or frequency of purchases, retailers can motivate customers to spend more. Additionally, personalized offers based on past behavior can guide customers towards products they're likely to buy, thereby maximizing their value to the retailer.
• How can retail loyalty programs address the challenge of increased competition?
• Retail loyalty programs can stand out amidst increased competition by offering unique and valuable rewards. By understanding their target audience and crafting rewards that align with their interests, retailers can create a distinctive program that gives customers a compelling reason to choose their brand over others. Personalization and differentiation are key in maintaining a competitive edge.
• Can a retail loyalty program contribute to the growth of average transaction value?
• Absolutely. The Novus Retail Loyalty Program can incentivize customers to spend more per transaction by offering rewards or discounts for reaching certain spending thresholds. By encouraging customers to increase their basket size, Novus can effectively contribute to the growth of the average transaction value.
• How does a retail loyalty program contribute to the Online vs In-Store Sales and omnichannel engagement?
• Novus Retail Loyalty Program can seamlessly integrate across various channels - in-store, online, and mobile. This integration provides customers with a consistent experience, allowing them to engage with the loyalty program in whichever way they prefer. By offering rewards, promotions, and benefits across all touchpoints, Novus can drive omnichannel engagement and improve the Online vs In-Store Sales.
• How can Novus' retail loyalty program address the challenge of low Unit Per Transaction (UPT)?
• Novus' retail loyalty program offers personalized recommendations based on customer preferences and purchase history. By suggesting complementary items during the shopping process, Novus encourages customers to explore and add more products to their carts, ultimately increasing the Unit Per Transaction.