Finish off this week with the news (and news you may have missed) that's going to impact your customers in the coming weeks and months.
In this week's customer engagement recap:
- US Credit Card Debt Ratio Sees 25-Year Low
- Wal-Mart has a massive plan that should terrify Whole Foods, Kroger, and Trader Joe's
- Need to Add Value to Customers? Team Up.
- Study: Employee Recognition May Help Alleviate Turnover
- What Does “Discover the Difference” Mean in Employee Discount Programs?
- Upgrade Your Smartphone At Any Time With T-Mobile: With A Few Catches
US Credit Card Debt Ratio Sees 25-Year Low (PYMNTS)
All that money that isn't being spent on CPG or homes is paying off the crippling loads of debt Americans have, especially Millennials. What will they do when half of their paychecks are going to debt? TBD.
Wal-Mart has a massive plan that should terrify Whole Foods, Kroger, and Trader Joe's (Business Insider)
"Terrify", "major threat", "expanding rapidly"...
The return of the plague?
No, just Walmart planing an expansion of their smaller, grocery-oriented Neighborhood Market stores. On top of recent announcements from Whole Foods and Trader Joe's continued ascension, the race for cheap, organic-ish groceries is heating up very rapidly.
Need to Add Value to Customers? Team Up. (Access Loyalty Blog)
Coalition programs such as Plenti and recent partnerships such as Spotify/Starbucks and Marriott/Netflix seem to be ushering in an era of brand cooperation. Which is a good thing - the right partnership can add value to customers and lift the engagement efforts of partner brands.
Study: Employee Recognition May Help Alleviate Turnover (Associations Now)
A new survey by the Society for Human Resource Management (SHRM) shows that employee turnover has overtaken engagement as the number concern for HR pros. One potential solution touted by the respondents? Recognition programs. Not just tenure recognition, but singling out those who demonstrate the organization's desired values.
Interested in more data around turnover and retention? Check out our collection of employee engagement stats.
What Does “Discover the Difference” Mean in Employee Discount Programs? (Access Loyalty Blog)
Speaking of SHRM, we're sending a team to their annual conference starting Sunday. If you're in the area, stop by booth #2760 and win some free stuff. Or, you can click on the article to learn a little bit about what a good employee discount program looks like - and how it can help with engagement and retention.
Upgrade Your Smartphone At Any Time With T-Mobile: With A Few Catches (Consumerist)
It's kind of fun to see T-Mobile laying waste to relative tranquility enjoyed by the major carriers. For a long time the industry was essentially status quo, but now they're gone total war to acquire customers at just about any cost (while also seemingly entertaining a Tinder-like cast of potential acquisition suitors).
This particular package isn't as great as it sounds unless you're a newphoneaholic, but it's a disruption to an existing T-Mobile disruption (early upgrade plans), and most likely, the others will follow suit.