Nordstrom ups the ante with new loyalty program

Last week Nordstrom, the U.S.-based fashion retailer, announced the launch of a new loyalty program. Despite its rather uninspired name, The Nordy Club is intended to broaden customer engagement while increasing earn rates by 50% for members paying with a Nordstrom credit card. The new program also offers more access to services and personalized offerings. At first … Continue reading Nordstrom ups the ante with new loyalty program

Demanding loyalty

It seems rather natural to want loyalty. Maybe sometimes we even crave it or desperately feel as if we need it. From our employees. From our customers. From our friends or partner. But as the boss, we shouldn't think we have loyalty when conformance with our agenda--or praise from a parade of sycophants--is engendered out … Continue reading Demanding loyalty

The world’s best growth hack

We spend so much time, energy and money searching for new customers. Yet, in case you haven't noticed, in many cases acquisition costs are rising--often substantially--and often to the point where these efforts are cash negative. Once we've acquired a new customer, we hit them with an never-ending stream of emails, free shipping offers and … Continue reading The world’s best growth hack

The wrong side of scarcity

The formula for success in retail--in being intensely relevant and remarkable for customers and investors alike--is ultimately rooted in scarcity. Scarcity for a highly desired good or service amplifies demand and enables a brand to command a premium price. Conversely, abundance undermines those abilities. So, let's be honest, in your market sector are any of … Continue reading The wrong side of scarcity