It has been a difficult few years for British high street retailers, independent shops, cafes and leisure centres. In 2017, over 6,000 stores closed across the country and big brands, such as House of Fraser and Toys R Us have struggled, or closed. The high street is under siege from online retailers and stagnant wage growth.
Loyalty programmes are one way high street retailers can fight back, giving customers more and encouraging people to spend more and enjoy the retail and leisure experience for longer. However, for smaller retailers, loyalty schemes often prove too expensive to run and don’t generate enough returns. Customers don’t want the hassle of carrying around another piece of card or downloading another app.
Stampfeet, a customer loyalty platform company, is powering Mi Rewards, a solution that customers and retailers will love.
Mi Rewards is an innovative cardless rewards programme that gives back to those supporting local businesses, begins its staged release in Perth, Scotland, where over 50 local businesses, including concert halls, cinemas, leisure centres, restaurants, cafes and shops are already enrolled in the scheme.
A simple, connected loyalty scheme for the high street
Following this trial launch in Perth — in time for the busiest retail season of the year — Mi Rewards is expected to launch in other cities where retailers have expressed interest, such as Glasgow, Salisbury, Bath, Sheffield and Edinburgh over the coming months.
Mi Rewards’ registered customers are given a point for every pound they spend.
Once enough are saved, points can then be converted into gift cards which can be spent at participating business (you could earn points buying clothes and beauty products, then spend them on cinema tickets or a nice meal). In addition to this, Mi Rewards customers also receive perks, event tickets and unexpected treats, just for being part of the scheme.
Traditionally, similar schemes struggle to track customer spending across a wide range of retailers and leisure company, especially when different companies use a variety of IT and point-of-sale (POS) schemes. Mi Rewards have solved in this case by using card linking technology which enables the programme to run smoothly without complex and costly IT integrations.
Businesses that want to join can be added to the program seamlessly and transactions are captured via debit and credit card schemes. Data is then passed onto our loyalty engine which supports the consumer loyalty accounts, promotions and communications, all designed to encourage customers to spend more time and money with participating retailers and in city centre and high street destinations.
For customers, this programme is innovative and seamless journey — when registered customers spend money in local businesses with a linked debit or credit card they automatically earn points for their Mi Rewards account, without needing to carry around another card or download an app. Mi Rewards: Launching in Perth, Scotland this months, with future roll-outs planned across the country in the next few months.