Billions wasted on loyalty programmes as customers do not care
The retail fad of customer loyalty programmes has died, a global survey by Accenture found. Accenture said its poll of 25,426 consumers around the world, including 366 South Africans, found "organisations are wasting billions each year on customer loyalty programmes that don’t work like they used to". Of the South Africans surveyed by Accenture Strategy, 81% had switched provider in the past year, and 40% said their views on brand loyalty had completely changed. "With millions of loyalty points sitting dormant and 79% of South African consumers retracting loyalty at profit-crushing rates, organisations must pay attention to the new factors driving customer loyalty in the digital age or risk losing customers for good," Dunja Kartte, senior manager for Accenture Strategy in SA, said on Wednesday.
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