How to Increase Loyalty and Revenue in Retail

People with bags

One of the surest ways to increase loyalty and revenue in retail is by adopting app technology. As we’ve previously covered here on Messapps, this is a lot easier said than done. In order to ensure that your app actually adds value to your retail company, you can look at how some of the most successful retail-based apps are performing.

For instance, the global coffee chain Starbucks has been making a killing with more than 17 million users currently registered on its app. For its rewards program, Forbes reveals that the number of active users amounts to 13 million. Meanwhile, Starbucks’ 7 million monthly mobile transaction records equal to 27% of the global company’s total transactions. What’s the secret to this success? How the company uses big data.

Starbucks used its rewards program to leverage the development of its app. Upon gaining its millions of users, the app was then used to collect consumer data. This includes nearly everything that’s relevant to the customer experience: what type of coffee they bought, where and when they bought it, what the weather was like, which complementary products or promotions came with the purchase, etc. All that and more is currently being used by the developers of the Starbucks app to continue providing its millions of subscribers with a consistently satisfying experience.

The global coffee chain is far from being the only retail company that is ensuring customer retention and improved revenues through the use of apps. Other well-known names in the retail business like Amazon, Nike, Best Buy, and Macy’s have gotten in on the act as well. The consistent development of retail-friendly features on these companies’ respective apps has undoubtedly been instrumental in how they’ve been able to satisfy their customers/app users. This includes integrated payment services via popular payment options like Apple Pay, easy credit solutions, and custom-tailored shopping experiences for loyal customers. Synchrony claim that more people are downloading and using retail-based apps than ever before as a result of this.

The benefits of apps to the world of retail can also be observed not just through consumer-targeted apps, but also through apps that affect another significant aspect of the business: the supply chain. Electric Logging Devices (ELDs) for instance, are already making it easier for delivery fleets to move commercial goods across the country. ELDs are state-mandated devices that are required in every single heavy delivery truck in the US. Verizon Connect details how the government-approved ELD software can be installed on smart devices, and automatically collects data during a vehicle’s journey. This allows fleet operators to use traffic data to find optimal delivery routes. This not only makes delivery times faster but also allows delivery fleets to save on gas and lower overhead costs – ultimately making for a better customer experience. With both the national government and the private sector developing and supporting the use of ELDs, deliveries will be even more efficient in the future.

If you want more insights on how to develop an app that actually increases your company’s value, take a more detailed look into what the above-mentioned apps are improving and developing. It takes more than slapping a popular name on an app to increase revenue and ensure customer loyalty.

Post is written by JBTechFinds