Customer Loyalty, Economic Wars And Social Selling: Is There A Correlation?
Quite recently, in the era of chasing consumers, the marketing term "bargain purchase" became synonymous to "we will pay for your participation", but now the situation is rapidly changing. The retail market has entered the era of turbulence and inflation.
Against the backdrop of uncertainty and rapidly changing situation with pricing and demand, retail chains are increasingly canceling discounts and suspending their customer loyalty programs.
At the same time, social selling is gaining popularity very quickly, taking buyers away from the frictional offline retail.
A serious information tsunami caused by restrictions for international IT-giants in their ability of getting a cake and its topper cherry of the social sales in Russia is the vivid example of huge interest in the topic of both sellers and buyers.
Analysts compete in forecasts, but it is already clear that what had been happening recently will never happen again.
Broken economic ties between countries and regions, forcibly interrupted supply chains shall aim at giving a new impetus to the development of a decentralized ecosystem of online trade and social commerce, along with the Internet systems supporting them.
Let's avoid finding the beneficiaries since they will soon declare themselves.
Today it seems to be very important to understand what is happening and adapt to new conditions as soon as possible.
Can the concept of loyalty programs with its corporate tools like loyalty points, miles and other business-centric incentives keep its positive trend? Time will show, but for now, many businesses are forced to get survived first.
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