While sales events can help shoppers benefit from significant price drops, they only run from time to time. Since shopping for one’s needs can be postponed only in some cases, such as when it comes to non-urgently-needed items, in other cases, it’s just not an option. Here is where loyalty programs come into sight.
Given today’s competitive retail environment, these programs have become a valuable resource and tool for both consumers and businesses. Loyalty programs provide, as the name suggests, loyal shoppers with a variety of perks while fostering long-term customer relationships, which is a win-win situation for all parties involved.
In this article, we will take a look at the perks of joining a loyalty program so that you can make an informed decision on which programs to join and maximize the value and savings you receive from your favorite retailers. Plus, we will explore several US retailer loyalty programs and their distinctive features and perks.
Criteria for Evaluating Retailer Loyalty Programs
There may be many loyalty programs out there, but not all of them meet everyone’s needs and interests. While some of them are free to join, others require you to spend a certain amount of money to become a member. Plus, perks vary from one program to another, therefore, it is essential to consider several key criteria that determine their effectiveness and value to consumers. So here are a few factors to keep in mind before joining such a program.
1. Program Accessibility and Ease of Use
One of the first things that can make one join a program or skip to another one is how easy it is to actually become a member. Therefore, make sure to evaluate the eligibility criteria and any associated fees for joining the loyalty program. Is it free to join or do you have to spend a certain amount of money to become a member? Does that work for you?
Plus, it is worth assessing the program’s digital platform or mobile app for ease of navigation and accessibility. Consider how seamless it is to earn and redeem rewards across different channels, whether you’re shopping online or in-store.
2 . Rewards and Benefits Offered
If becoming a member is nothing complicated and you’re ready to join, make sure to also consider the following:
- Types of rewards – assess the range of rewards offered, such as discounts, cashback, free merchandise, or exclusive access to events.
- Redemption options – perks may come in plenty, but are they easy to redeem? Therefore, consider the flexibility and ease of redeeming rewards, whether it’s through points, digital vouchers, or physical gift cards.
- Extra perks – some loyalty programs offer additional advantages to their members. Besides redeemable rewards, members can also enjoy free shipping, extended return periods, or personalized recommendations. Check to see if the program you want to join includes such extra perks, as they will help you save even more.
3. Member Exclusivity and Personalized Experiences
To make the most of your shopping experience and get more value for your money, it is also worth considering joining a program that includes the following advantages:
- VIP levels or tiers – some retailers offer different VIP levels, which means that the program includes increasing benefits for more loyal customers. This further means that the more you spend, the more you save.
- Personalized experiences – select programs will tailor offers and recommendations based on your shopping preferences and purchase history, therefore, look out for such a program to ensure you get discounts on the items you’re interested in.
- Exclusive events and early access – members of some loyalty programs benefit from early access to sales events, which means that you can be among the first to save during such sales. Plus, as a member, you may also enjoy member-exclusive sales, so more savings.
4. Customer Support
Technical glitches, reward discrepancies, and other such issues may occur. To make sure that they get solved promptly, it is essential to also evaluate the availability and responsiveness of customer support channels for addressing queries or concerns.
5. Overall Value
How much a loyalty program will help you save is what usually determines whether a shopper joins it or not. So here are two more things to consider:
- ROI on purchases – based on your usual purchasing patterns, determine how much value and discounts you can accumulate through the loyalty program.
- Comparisons with competing programs – take into account how the program’s rewards and benefits compare to those of similar programs provided by other retailers.
Retailer Loyalty Programs in the US
Most popular retailers run loyalty programs, offering members various perks, such as exclusive sales and birthday gifts. Here are just a few examples of loyalty programs and their advantages:
1. Amazon Prime
Amazon has become popular due to many reasons, and the rich variety of products available is one of them. If you often shop at this retailer, joining Amazon Prime is worth considering. Members benefit from the following perks:
- Free two-day shipping on select items
- Access to Prime Video for streaming movies, TV shows, and exclusive content
- Prime Music with millions of ad-free songs and personalized playlists
- Prime Reading with a rotating selection of ebooks, magazines, and comics
- Prime Day, an annual sales event exclusive to Prime members
2. Target Circle
Target’s loyalty program can help you earn 1% in Target Circle earnings rewards every time you make an eligible purchase with a non-RedCard payment, which can be used at Target, in-store or online. It is free to join and comes packed with the following perks:
- 1% earnings
- Access to offers just for you on items & brands you love
- Birthday gift – get 5% off a single purchase for your birthday.
- Every time you shop with Target Circle you earn a vote. You can cast votes to help direct where Target gives in your community.
3. CVS ExtraCare
Loyalty rewards are offered by different types of retailers, including drugstores and pharmacies. CVS is one of them, and once you become a CVS ExtraCare member, you will enjoy the following:
- ExtraBucks rewards on qualifying purchases and 2% back every time you shop
- A birthday treat ($3 ExtraBucks Rewards)
- Weekly ad deals
- Up to $50 ExtraBucks Rewards just for filling prescriptions, getting flu shots, and more.
4. Kohl’s Rewards
Joining the retailer’s program is free, and members enjoy a variety of perks, including the ones listed below:
- 5% rewards on every purchase, every day
- A special birthday gift
- Personalized perks
- A little something special for the retailer’s anniversary
- Access to exclusive savings every month
- MVC monthly free shipping events
Some of these benefits are available only to members who also have and use a Kohl’s card.
5. My Best Buy
Tech upgrades can weigh heavily on one’s budget, given that electronics and gadgets often fall on the pricey side. Thanks to Best Buy’s loyalty program, you can help your savings add up. The program has three tiers, and benefits vary depending on your level. The following perks are available:
- Free standard shipping (all levels)
- Free 2-day shipping (only for My Best Buy Plus and My Best Buy Total members)
- Exclusive member prices on thousands of items (only for My Best Buy Plus and My Best Buy Total members)
- Exclusive access to sales, events, and products (only for My Best Buy Plus and My Best Buy Total members)
- Extended 60-day return window on most products (only for My Best Buy Plus and My Best Buy Total members)
Retail loyalty programs have changed the way people shop by giving them access to exclusive rewards and personalized benefits. You can select the programs that best suit your tastes by taking into account the evaluation criteria for loyalty programs, such as rewards, accessibility, member exclusivity, customer service, and overall value. By actively participating in loyalty programs, you can unlock significant discounts and maximize your shopping journey.