Reward Cards? Who are they rewarding?
Every time you provide this information your purchases are now linked to YOU.
Think about how many “reward” or “loyalty” cards you have…now consider how effective each store markets to you. Are you laughing? You should be.
Most stores don’t use this data collected to do more than clog their database. And what’s crazy is that they have your buying habits and could be marketing more effectively than ever to you. Removing price as your top concern and replacing it with convenience.
Why? Because they know what products you like to purchase, how you like to spend your money, what brands you purchase more than others, and what your household is like based on those brands you purchased. All of this data forms quite a nice picture of you for them to then market to you in the future. Plus they have your mailing address, phone number, email address, etc.
There are very few stores that seem to effectively use this data about you, their consumer, to then market in the future. The masters I have seen of this are casinos (yes, master of marketing based on your “purchases”) and Target (once again the king).
More on this in my next post…