Not all loyalty programs need to revolve around the concept of collecting points that translate into discounts on purchases, as the Myer Spring/Summer line's debut demonstrated. While most fashion debuts feature a crowd of media, celebrities, and fashion elites, Myer, the Australian department store, took a different angle in presenting its catwalk. Of the 1,400 guests in attendance, 700 were Myer's most valued customers.
Myer used data to select the 700 lucky and loyal customers, mining their interests at the stores to figure out which customers are most interested in the designer aspects.
Beyond just an invite to the Myer Spring/Summer event, Myer offered these 700 customers the chance to head to their local department store and get a fitting with designer dresses. Giving experiences in exchange for loyalty (rather than products) shows the importance that Myer places on lifestyle in the brands that the department store offers.
Exclusive Consumer Catwalks
The Myer Spring/Summer Line Debuted for Its Most Valued Consumers
Trend Themes
1. Personalized Loyalty Programs - Using data to select and reward valued customers based on their interests and preferences.
2. Experiential Marketing - Offering unique experiences to build loyalty and strengthen customer relationships.
3. Data-driven Customer Insights - Leveraging customer data to identify the most valuable and engaged customers for targeted marketing strategies.
Industry Implications
1. Retail - Retailers can adopt personalized loyalty programs to reward valued customers and enhance customer loyalty.
2. Fashion - Fashion brands can explore experiential marketing to create memorable experiences for their most loyal customers.
3. Marketing - Marketing professionals can utilize data-driven customer insights to develop targeted strategies and strengthen customer relationships.