7 most successful loyalty programs in electronics retail today

Importance of loyalty programs in a successful retail is crucial. Brands already know that it’s much wiser trying to keep in touch with a good customer, rather than trying to earn a new one. The 21st century is the era that customer’s needs are ultimately based on the relation between his loyalty to the brand and the services he is provided with. This connection is also known as customer loyalty program. Especially when retailers trying to merge e-Commerce and the physical store, together with providing seamless experiences in the benefits and the payment customer journeys.

Most successful e-Commerce brands are working on the way they approach customers via real-world loyalty strategies. But what’s really noteworthy is the fact that many brands have already expanded their online empires at brick and mortar businesses. Engagement between digital and physical is the key to survive in retail’s environment. Most of them failed, but the ones that counted on their trustworthy loyalty programs, guess what? They did it! Loyalty programs are the pylon on which every e-Commerce brand should be lean on, in favour of success. Today, we are going to talk about the biggest electronic stores and their loyalty programs.

tl;dr

Below you can find a very interesting list of what we believe are some of the most successful customer retention programs at the moment for retail electronics. As you might guess we have extended the context of what an electronics retailer really is and we went through reach and impact of the proposed rewards model. Another crucial parameter in our overview is the penetration of the program to the total customer base of the brand. 

#7 eBay

Country of Origin: United States

Program Name: eBay Bucks

Subsidy: 2%

Participation’s Cost: Free

Wallet: eCommerce Tokenization 

eBay has been using its loyalty program for more than 7 years. Customers can find the largest supply of merchandise of any online shopping site.

“We’re giving eBay’s most loyal shoppers something special in return – money to spend on eBay,” said Lorrie Norrington,

president of eBay Marketplaces. Through its customer loyalty program customers easily take pleasure in the benefits that are being offered.

#6 MinilnTheBox

Country of Origin: United States

Program Name: Rewards & Credit Program

Back: 1%

Participation’s Cost: Free

Wallet: eCommerce Tokenization

MinilnTheBox offers 2-types rewarding ways which are either Reward or Credit. The first way rewards customers equal to 1% after their full payment and the second way offers refunds that can be used as Credit or refunded to your original payment method once your order has received a refund. On MinilnTheBox you will find thousands of products offered at incredible wholesale prices and a massive range of first-rate goods.

#5 Best Buy

Country of Origin: United States

Program Name: My Best Buy

Back: 5%-6%

Participation’s Cost: Free

Wallet: eCommerce Tokenization

My Best Buy is a well-executed loyalty program that works on 3 scales. At first, you can join for free and earn up to 5% benefit but this doesn’t mean you will stay stable. Spend 1500$ in purchases per the Calendar Year and “Congratulations! You are promoted”. That automatically means a new benefit of 6%. There is also the 3rd scale that gives more advantages to the members that are qualified twice. Spend 3500$ in purchased and you are already there. As we can see, this program makes customers wanna spend more, so as to get even more.

#4 Microsoft

Country of Origin: United States

Program Name: Bing Rewards

Back: 10%

Participation’s Cost: Free

Wallet: Microsoft Pay

One of the most recognized brands when it comes to computers and devices. Last year Microsoft expanded its Bing Rewards program to the UK and it has nothing to do with the previous loyalty programs. The Bing Rewards program has two different earning levels. New users enter the program at Level 1 and then advance to Level 2 as they accrue more points (Level 2 include offers and a 10% discount). What is pretty weird in this program’s scheme is based on the fact that you don’t have to spend money to earn points but run your searches through Bing.

#3 Samsung

Country of Origin: South Korea

Program Name: Samsung Rewards

Back: -

Participation’s Cost: Free

Wallet: Samsung Wallet

Samsung is probably the No 1 company to trust when it comes to the household. Samsung’s rewarding program is operating on a 4 scale-type scheme. This way encourages customers to make more payments so as to earn more points each month. Each month, you also have the opportunity to reach a bonus level that accelerates your points for that month and the month after.

#2 Newegg

Country of Origin: United States

Program Name: Eggpoints

Back : 1%

Participation’s Cost: Free

Wallet: No

Newegg is a leading online retailer committed to becoming the most loved and trusted marketplace on the web. Spend a dollar, get a point! Get 100 points and earn a dollar! As simple as that, you can make purchased, earn points and turn points into real money for your purchases.

#1 Amazon

Country of Origin: United States

Program Name: Amazon Prime

Back: Same day deliver, Free Streaming, Deep Discounts

Participation’s Cost: Paid (99$)

Wallet: Amazon Pay

Amazon Prime is in the main center of attention as people argue whether it’s a loyalty program or not. Actually, Amazon Prime is the next-gen loyalty program that’s why it causes that conflict. An easily understood program which combines both really fast deliver orders and products such as Prime Video and Prime Music. Online photo storage and access to thousands of e-books are also included. Paying the 99$ year is probably a value for money, considering the services given.

You might wonder why wallets were shown in every brand's identity. Mobile wallets constitute the future of loyalty and marketing. Your mobile phone is probably right now in your hand. Imagine for a moment your mobile as a wallet. How easy could that transformation make your payments and transactions faster? More than 50% of consumers have embedded mobile wallets in their smartphone. Colossus companies such as Apple, Samsung or Amazon have already their own wallets. Our gen is a digit-gen, so dealing with it as soon as possible is a one-way street!