IMPULSE BUYING AND RETAILER LOYALTY PROGRAMS: ASSESS THE INFLUENCE OF LOYALTY PROGRAMS, REWARDS, AND CUSTOMER INCENTIVES ON IMPULSE BUYING
DOI:
https://doi.org/10.29121/granthaalayah.v12.i8.2024.5748Keywords:
Impulse Buying, Retailer Loyalty Programs, Customer Loyalty, Personalized RewardsAbstract [English]
Comprehending the link between impulse buying and retailer loyalty programs is crucial in retail marketing. These programs, designed to encourage repeat purchases and foster customer loyalty with personalized rewards, profoundly impact impulsive behaviors. This study uses a mixed methods approach to assess the effectiveness of loyalty strategies across diverse consumer demographics. Rewards such as discounts, points, or exclusive access cultivate a sense of belonging and exclusivity, influencing purchasing decisions by triggering immediate incentives and urgency through limited time offers. Emotional and psychological factors drive impulse buying. The expectation of rewards, the excitement of earning points, and the sense of exclusivity all play roles in impulsive purchases. Retailers can capitalize on these motivators by tailoring programs accordingly. Demographic variables such as age, income, and shopping habits influence program effectiveness, with younger consumers typically favoring digital rewards and older consumers showing a preference for traditional discounts. Qualitative research delves into motivations and perceptions, providing rich insights into how loyalty programs influence impulse buying behaviors. This holistic approach offers valuable insights for refining marketing strategies, increasing customer loyalty, and promoting impulse buying through personalized rewards, real-time offers, and gamification.
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Copyright (c) 2024 K Chandrasekhar, Saumendra Das, Dr. Neha Gupta
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