Belonging & The Membership Economy

This PSFK report studies the shopper experience and how token technologies & customer-centric strategies are redefining retail.

Introduction

Retailers and consumer goods companies are facing an ever-increasing challenge to retain customers in today’s digital age. As a result, membership, loyalty, and subscription models have become a critical edge for these businesses. However, meeting the ongoing price sensitivity, the widespread desire for better service, and an expectation for frictionless experiences of customers is no easy task. Leading brands and retailers are utilizing this opportunity to build more consumer-centric strategies that offer hyper-personalization, connected experiences, and intelligent-driven programs.

In addition, retailers are elevating their loyalty programs to reward their most loyal customers with elevated services and benefits. These programs collect valuable data that informs retailers on their promotions, pricing, and inventory management. Furthermore, the integration of token technologies such as NFTs and blockchain has highlighted the potential for innovation and enhancement in the retail experience. This report delves into the latest membership, loyalty, and token strategies that retailers and consumer goods companies can use to engage customers and improve the retail experience.

Executive Summary

The retail industry is in a state of constant evolution, and technology is being leveraged by brands and retailers to engage with customers in new and innovative ways. This report highlights three key trends that are shaping the retail experience: the use of token technologies, engaging Gen Z customers in product development, and tiered loyalty programs.

The integration of token technologies, such as NFTs and blockchain, has been gaining significant momentum. This report showcases companies that are utilizing token technologies in their customer loyalty programs, offering new and exciting ways for customers to interact with their favorite brands. Additionally, retailers are engaging Gen Z customers in the development of their products, providing a platform for this generation to voice their opinions and share their ideas.

Finally, tiered loyalty programs are becoming increasingly popular, with retailers offering elevated services and benefits to their most loyal customers. The data collected from these programs informs retailers on their promotions, pricing, and inventory management. This report examines how these trends are being implemented in the retail industry and highlights the benefits they offer to both brands and customers. The report features case studies of companies such as Shiseido, Nike, Prada, and Foxtrot Market to showcase real-world examples of these trends in action.

What You Will Learn From This Report

This report explores the latest trends in the retail industry and their impact on brands and retailers. It provides insights into how token technologies, Gen Z engagement, and tiered loyalty programs are shaping the future of the industry. In addition, it features real-world examples from leading companies that have successfully implemented these trends to stay competitive and build deeper connections with customers.

What You Will Learn:

• The use of token technologies like NFTs and blockchain and how they can help brands and retailers build deeper connections with customers by creating unique and personalized experiences.
• How retailers are engaging with Gen Z customers by involving them in the product development process and creating products that cater to their unique needs and preferences.
• The benefits of implementing tiered loyalty programs that reward the most loyal customers with elevated services and benefits, and how they can help retailers build deeper connections with their customers.
• How these trends are shaping the future of the retail industry and what they mean for businesses looking to stay competitive in a rapidly changing market.

About The Team That Prepared This Report

This report was prepared by a team of industry experts and analysts with extensive knowledge and experience in the retail and consumer goods industry. The PSFK team conducted extensive research and analysis of the latest trends and best practices in membership, loyalty, and token strategies, and consulted with leading brands and retailers to provide insights and examples of successful implementations. The report was reviewed and edited by senior industry professionals to ensure accuracy and relevance to the current market landscape.