fbpx Studies show that millennials would be willing to pay for loyalty programs if their favorite stores offered them. According to a recent survey by LoyaltyOne, 65% of American consumers believe that relevant customer rewards are worth paying for. Many think that fee-based loyalty programs offer better rewards, and therefore, are worthwhile. If consumers are required to pay an upfront fee in order to join a loyalty program, then they are more likely to shop from that place to make the most of their investment and reap the benefits. Sounds like a win-win for the retailers! Some of the most valued rewards include free shipping and special discounts. As loyalty programs are becoming increasingly popular, it is important for retailers to keep in mind that millennials hold greater buying power than ever before. Since they are the ones interested in fee-based loyalty programs, you should take advantage of that! Target millennials and offer paid loyalty programs that will motivate your customers to shop at your store and reward them for their purchases. Overall, loyalty programs help retain customers, increase customer spending, and establish a positive word of mouth. With RICS, you can use the frequent buyer discount methods as the reward for the customers that are paying for your loyalty program. It doesn’t hurt to give fee-based loyalty programs a shot and see if the millennials show interest! Here are five frequent buyer methods that are available within RICS: • Method 1: Buy quantity and get dollars equal to the average price of items purchased • Method 2: Buy dollars and get dollars off • Method 3: Flat percent discount • Method 4: Buy quantity and get a percent off next item purchased • Method 5: Buy dollars and get a percent off next item purchased