Iris Case Studies Revamping Value Retail's Loyalty Programme: A Case Study

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	Revamping Value Retail's Loyalty Programme: A Case Study Iris

Revamping Value Retail's Loyalty Programme: A Case Study

Iris

Applicable Industries	Cities & Municipalities Retail
Applicable Functions	Product Research & Development
Use Cases	Retail Store Automation Theft Detection
Challenge	Value Retail, a company specializing in the development and operation of luxury outlet shopping destinations, was facing a significant challenge with its loyalty programme. The programme was failing to meet its primary objective of guest data capture. The main issue was a perceived weak connection between guest behaviour and the rewards offered by the programme. This disconnect was leading to a lack of engagement from customers, which in turn was affecting the effectiveness of the loyalty programme. The company needed a solution that would not only improve data capture but also strengthen the link between customer behaviour and rewards, thereby enhancing customer loyalty and engagement. Read More
About Customer	Value Retail is a company that specializes in the creation and operation of luxury outlet shopping destinations. The company's business model is centered around providing a unique shopping experience for its customers, which includes a loyalty programme designed to reward customer engagement and loyalty. However, the company was facing challenges with its loyalty programme, which was failing to meet its primary objective of capturing guest data. This was largely due to a perceived weak connection between guest behaviour and the rewards offered by the programme. Read More
Solution	Iris, a global creative innovation network, was brought in to lead the loyalty proposition development from end-to-end through to launch. The solution involved several key steps. First, Iris worked on the proposition concept design, which involved creating a new structure for the loyalty programme that would better align with customer behaviour. Next, they conducted a commercial analysis and risk mitigation to ensure the new programme would be financially viable and sustainable. Iris also developed business and functional requirements, a contact strategy including customer journeys and use case planning, and an internal and customer-facing launch strategy and communications plan. They also set up a Village brands engagement strategy, KPI setting and measurement framework, and partnerships development. The revamped loyalty programme was first launched in a pilot village in Paris in June 2018 to test the concept and drive programme optimisation and further personalisation. Read More Log in to view content
Contents

Applicable Industries

Cities & Municipalities

Retail

Applicable Functions

Product Research & Development

Use Cases

Retail Store Automation

Theft Detection

Challenge

Value Retail, a company specializing in the development and operation of luxury outlet shopping destinations, was facing a significant challenge with its loyalty programme. The programme was failing to meet its primary objective of guest data capture. The main issue was a perceived weak connection between guest behaviour and the rewards offered by the programme. This disconnect was leading to a lack of engagement from customers, which in turn was affecting the effectiveness of the loyalty programme. The company needed a solution that would not only improve data capture but also strengthen the link between customer behaviour and rewards, thereby enhancing customer loyalty and engagement.

About Customer

Value Retail is a company that specializes in the creation and operation of luxury outlet shopping destinations. The company's business model is centered around providing a unique shopping experience for its customers, which includes a loyalty programme designed to reward customer engagement and loyalty. However, the company was facing challenges with its loyalty programme, which was failing to meet its primary objective of capturing guest data. This was largely due to a perceived weak connection between guest behaviour and the rewards offered by the programme.

Solution

Iris, a global creative innovation network, was brought in to lead the loyalty proposition development from end-to-end through to launch. The solution involved several key steps. First, Iris worked on the proposition concept design, which involved creating a new structure for the loyalty programme that would better align with customer behaviour. Next, they conducted a commercial analysis and risk mitigation to ensure the new programme would be financially viable and sustainable. Iris also developed business and functional requirements, a contact strategy including customer journeys and use case planning, and an internal and customer-facing launch strategy and communications plan. They also set up a Village brands engagement strategy, KPI setting and measurement framework, and partnerships development. The revamped loyalty programme was first launched in a pilot village in Paris in June 2018 to test the concept and drive programme optimisation and further personalisation.

Impact #1	The revamp of Value Retail's loyalty programme led to significant operational improvements. The new programme was better aligned with customer behaviour, leading to increased engagement and loyalty. The improved data capture allowed the company to gain deeper insights into customer behaviour, which in turn enabled them to further optimize and personalize the programme. The successful pilot launch in Paris also provided a proof of concept, paving the way for a wider rollout to all other villages by September 2018. Overall, the new loyalty programme not only improved customer engagement and loyalty but also enhanced the company's ability to capture and utilize customer data for business growth.

Impact #1

The revamp of Value Retail's loyalty programme led to significant operational improvements. The new programme was better aligned with customer behaviour, leading to increased engagement and loyalty. The improved data capture allowed the company to gain deeper insights into customer behaviour, which in turn enabled them to further optimize and personalize the programme. The successful pilot launch in Paris also provided a proof of concept, paving the way for a wider rollout to all other villages by September 2018. Overall, the new loyalty programme not only improved customer engagement and loyalty but also enhanced the company's ability to capture and utilize customer data for business growth.

Benefit #1	100% increase in customer acquisition after the launch of the new loyalty programme
Benefit #2	175% increase in scanning rate, indicating higher customer engagement
Benefit #3	5 times increase in treat redemption, showing that customers were more actively participating in the loyalty programme

Benefit #1

100% increase in customer acquisition after the launch of the new loyalty programme

Benefit #2

175% increase in scanning rate, indicating higher customer engagement

Benefit #3

5 times increase in treat redemption, showing that customers were more actively participating in the loyalty programme

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Overview

Revamping Value Retail's Loyalty Programme: A Case Study

Operational Impact

Quantitative Benefit