What: An opinion piece exploring the benefits of teaming up to build a better loyalty program.

Why it is important:  This is exactly what Central Group offers to Thai retailers with its own The One loyalty program.

Retail has embraced the concept of "poly-loyalty," where shoppers are loyal to multiple retailers rather than just one. As a result, "poly-reward" programs have emerged, where various loyalty initiatives form open partnerships to share member perks and insights, benefiting all involved. These programs offer several advantages:

1. Partners gain insights into each other's customers' purchase data, enhancing merchandising and marketing strategies.
2. Brands can partner with organizations that bring complementary capabilities and resources, opening up new growth opportunities.
3. Sharing operational costs and combining promotions across channels reduce expenses and increase customer touchpoints.
4. Offering flexibility in earning and redeeming points across multiple retailers and payment methods motivates members to be more active.
5. Faster redemptions in poly-reward programs encourage higher engagement and better accounting practices.

Poly-reward programs provide an attractive solution to the growing number of loyalty programs, offering more excitement and opportunities for all involved in the retail ecosystem.

Should retailers team up with their loyalty program?