The entry of organized players into the Indian Retail sector lead to heavy competition in the industry. Retaining their existing customers and preventing them from switching to their competitors is very crucial as the acquiring a new customer is expensive. One of the ways in which retailers try to retain their customers is through loyalty programs. All most all the major retailers now have a loyalty program. As part of the loyalty programs, retailers offer loyalty cards so that the purchasing habits and history can be recorded. Loyalty cards make it possible to offer reward points that can be redeemed at the time of future purchases. However, carrying loyalty cards issued by all the retailers at the time of shopping is difficult. If you shop with ten retailers, holding ten loyalty cards in your wallet can be problem. Below are some of the tips to handle the loyalty cards issued by multiple retailers:
Record the Loyalty Card Numbers in your Mobile Phones
Every loyalty card issued by retailers has a unique identification number along with a bar code. Retailers just type in the loyalty card number or scan the bar code whenever consumers make a purchase. However, it is not necessary that you need to produce the loyalty card whenever you make a purchase. You can just give the loyalty card number so that the retailer can record the purchase. A good way to remember the numbers of multiple loyalty cards is to record them in your mobile phones. Note taking apps like Evernote and Google Keep can be used to record the numbers of loyalty cards. Just remember that you need to carry the loyalty card whenever you want to redeem the reward points accumulated.
Using Mobile Phone Numbers
Some retailers like Titan and Westside link the loyalty card numbers with your mobile phone numbers. In such cases, you can just give your mobile phone numbers while making purchases for identifying yourself. As you mobile phone numbers are linked to your loyalty card numbers, retailers can add your purchasing record, including reward points, to the loyalty card. You need to produce the loyalty card just at the time of redeeming your reward points.
Carry Loyalty Cards Issued by Independent Loyalty Programs
Independent loyalty programs like Payback have tie-ups with multiple retailers. Reward points offered by multiple retailers can be accumulated onto a single loyalty card offered by independent loyalty programs. Carrying such loyalty cards will do away the need of carrying a bunch of loyalty cards issued by independent retailers. Such cards are offered free of cost and have wider acceptance.
Use Co-branded Credit Cards
Co-branded credit cards act as loyalty cards for the retailers/companies that enter into tie-ups with banks. Many banks now offer co-branded credit cards in tie-up with major retailers. Applying for a co-branded credit card of the retailer you purchase the most will do away the hassle of carrying its loyalty card. For example, The American Express PAYBACK Credit Card acts as a loyalty card for many major retailers in the country.
