A brand new e-commerce loyalty program is rolling out as eBay announces its partnership with flybuys — an Australian company that works with large-scale retailers and household names to develop customer benefiting initiatives. With this new development, online shoppers can link their eBay accounts with the reward system and, thus, begin earning points on select items. The e-commerce loyalty program allows for accumulated sums to be redeemed for eBay vouchers.
As customers reach 2,000, they can exchange it for a $10 coupon. According to Canster Group Manager of Research and Ratings, the earn rate of the e-commerce loyalty program is low. However, this is countered by the partnership's tendency to allow consumers "to earn flybuys points on spending that, in the absence of reward credit cards, would otherwise go unrewarded."
e-Commerce Loyalty Programs
eBay Partners with flybuys for a Brand New Customer Reward System
Trend Themes
1. E-commerce Loyalty Programs - Disruptive Innovation Opportunity: Develop enhanced e-commerce loyalty programs that incentivize customers to earn points and redeem rewards across multiple retailers.
2. Partnerships with Household Names - Disruptive Innovation Opportunity: Forge strategic partnerships with well-known brands and retailers to create mutually beneficial customer reward systems.
3. Rewarding Unrewarded Spending - Disruptive Innovation Opportunity: Design loyalty programs that reward customers for purchases that typically go unrewarded, providing an added value to their shopping experience.
Industry Implications
1. E-commerce - Disruptive Innovation Opportunity: Develop innovative loyalty programs within the e-commerce industry to increase customer engagement and retention.
2. Retail - Disruptive Innovation Opportunity: Create customer reward systems in the retail industry through strategic partnerships and attractive redemption options.
3. Consumer Finance - Disruptive Innovation Opportunity: Explore the integration of reward credit cards with e-commerce loyalty programs to enhance earning potential and customer satisfaction.