This article discusses the increasing popularity of subscription-based loyalty programs and how they can remain viable and popular during a recession. It highlights why they appeal to brands (exclusive access to content and a personalized experience) and consumers (value for money, free shipping, etc.) and how to ensure their value proposition is dialed in. The article also discusses how free loyalty programs can be adjusted to changing customer needs and highlights the importance of offering a mutually beneficial value exchange.
Excerpt from the main article:
BLOG By: Epsilon Marketing | January 6, 2023 Paid loyalty programs have come of age throughout the last few years. The standard-bearer, Amazon’s $139-per-year Prime membership program, boasts more than 200 million members, a milestone it surpassed in 2021—just three years after crossing the 100-million user plateau. The trend isn’t limited to the Seattle-based behemoth, as 39% of consumers reported subscribing to at least one paid loyalty program other than Prime in a 2020 McKinsey survey in sectors ranging from entertainment to personal care and retail. For example, Walmart’s $98-per-year loyalty program, Walmart+, has grown to about 16
Are subscription-based loyalty programs recession-proof? We think so was originally published on EPS US – Blog
