Luxury department store Harvey Nichols implemented a loyalty rewards program that capitalizes on the fact that consumers are looking for instant gratification, as well as perks in the form of experiences. As such, the Rewards by Harvey Nichols app sets itself apart by offering rewards that are redeemable every three months, unlike many programs that only allow customers to redeem their points for prizes once annually.
The simple loyalty rewards programs gives consumers the chance to earn one point for every pound spend at in-store, online through Harvey Nichols, as well as at participating restaurants and bars.
Some of the experiences that can be redeemed through the rewards program include everything from gift-wrapping services and clothing alterations to home styling sessions.
Experiential Retail Rewards
Harvey Nichols' Loyalty Rewards Program Offers Perks Frequently
Trend Themes
1. Instant Gratification Rewards - Implementing loyalty rewards programs that offer frequent and instant perks can attract and engage consumers who are looking for instant gratification.
2. Experiential Redemption - Providing experiential rewards, such as gift-wrapping services and styling sessions, can differentiate loyalty programs and enhance the customer experience.
3. Flexible Redemption Options - Allowing customers to redeem rewards at shorter intervals, like every three months, rather than annually, can increase engagement and satisfaction.
Industry Implications
1. Retail - Retailers can leverage instant gratification rewards and experiences to improve customer loyalty and drive sales.
2. Hospitality - Hotels, restaurants, and bars can benefit from offering loyalty rewards programs that include experiential perks like in-room upgrades or exclusive dining experiences.
3. Personal Styling - Personal styling services can partner with retailers to offer loyalty program rewards such as styling sessions or personalized wardrobe consultations.