Members only: Enhancing value through loyalty and pricing

Consumer businesses can boost growth by integrating loyalty programs with pricing strategies in today's complex economic landscape

The year 2024 presents fresh challenges for consumers and the businesses, brands, and retailers serving them. With robust consumer spending post-record-high inflation and recession fears, consumer habits are evolving: prioritizing essentials, seeking better value, and expecting more from their preferred retailers.

Key takeaways

• Navigating these shifts can be unsettling for consumer-focused businesses. Amid inventory, pricing, and interest rate uncertainties, these companies must distinguish themselves in a competitive market while maintaining customer value and profit margins.
• To achieve this, companies can merge loyalty strategies and pricing tactics for enhanced personalization, amplifying the comprehensive value offered to customers.
• Creating a unified, comprehensive value proposition across pricing and loyalty strategies could unlock the next phase of growth for consumer-focused businesses.

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