The news and trends affecting consumer engagement that caught our eye this week.
In this week's customer engagement recap:
- REI closing on Black Friday for 1st time in push to #OptOutside
- Mobile Payments Will Triple in the US in 2016
- What Every Business Can Learn from The Membership Economy
- WHAT BANNING TOBACCO HAS MEANT FOR CVS
- Here's What Really Happened at That Company That Set a $70,000 Minimum Wage
REI closing on Black Friday for 1st time in push to #OptOutside (USA Today)
This is a great example of a brand being in tune with the values of its customers (or at least the customer aspirations - not every REI die hard is going to be back country hiking on Black Friday). When you consider the likely boost to employee morale, this is a master stroke. Walmart or JC Penney couldn't get away with this, but it should work out very nicely for REI.
Mobile Payments Will Triple in the US in 2016 (eMarketer)
Usage can triple, but it still won't be the significant adoption movement we've all been waiting for. The mobile wallet developers of the world are getting wiser to the idea of being more than just another way to pay, which is the next step to bringing in the masses.
What Every Business Can Learn from The Membership Economy (the Access Loyalty Blog)
With our Membership Economy webinar coming up, we've obviously been talking quite a bit about the move from ownership to membership means. You'd think people wouldn't be up for not owning things, and instead paying someone else to "borrow" it. But the level of service and value given to consumers by businesses such as Netflix and T-Mobile has proven to be disruptive to the point where every business has to consider a look at a subscription model.
WHAT BANNING TOBACCO HAS MEANT FOR CVS (loyalty one)
We first referenced this move and it's potential in a recap way back in February 2014. Loyalty One guru Bryan Pearson reports that CVS has actually grown revenue by a fairly significant portion. There's not a direct correlation between banning tobacco sales and the growth, but the move hasn't hurt CVS in the least. As with REI closing on Black Friday, brands do well when they appeal to the aspirational values of their customers.
Here's What Really Happened at That Company That Set a $70,000 Minimum Wage (Inc)
Everyone was waiting to see what sort of fate would befall Gravity Payments. At this point, the move is like a living embodiment of the employee engagement = customer engagement idea.