Magazine article Marketing

Editor's Comment: Waitrose Seeks Return on Loyalty

Magazine article Marketing

Editor's Comment: Waitrose Seeks Return on Loyalty

Article excerpt

I'm currently reading a tome about ancient Rome, in which loyalty is a recurring theme.

Loyalty to one's general, to the Emperor and to the Empire. Translating the concept to marketing may seem trite, but the principles are the same. Key among them: loyalty is a two-way street.

Take the retail sector, where loyalty is expressed via the reward card Tesco's Clubcard remains nonpareil, partly because, as former Tesco chief executive Sir Terry Leahy recently explained ('You have to break the straitjacket', Marketing, 19 October), the card is the mechanism behind a relentless focus on current customers.

'Far too much marketing spend goes on chasing the promiscuous shopper,' he told The Marketing Society. 'If you shift more of your spend behind rewarding your existing customers, you'll get far more return on your investment.'

Now another grocer has just taken the plunge (see page 1). Waitrose customers will no doubt be thrilled to receive the 'myWaitrose' card. The Royal-Warranted brand has overcome any dilemma that this could be, dare we say it, a shift downmarket. …

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