Foot Locker is kicking off the new year with a fresh loyalty program for customers that encourages shopping across its banners. It’s an approach that other multi-brand retailers have moved toward recently as well, including Ascena and Gap Inc.
The company said the new program was meant to “provide a more seamless and customer friendly experience — while also rewarding Foot Locker, Inc.’s most loyal customers.” Through FLX, members will be able to access rewards through any of the banner’s websites or mobile apps, and if customers are currently enrolled in one of the company’s loyalty programs, their status in the new program will be automatically decided by the amount they spent the prior year.
Loyalty programs have been the focus of many retailers over the past few years, as they try to balance the right savings benefits with more experiential rewards, like access to exclusive events or products. Indeed, a Gartner study over the summer found that 78% of loyalty programs in 2019 offered experiential rewards, up from 61% the prior year.
Perhaps prompting Foot Locker’s loyalty revamp, athletics brands more broadly have been innovating with their approach to loyalty. Reebok in April announced the launch of its first loyalty program, Lululemon has been testing a paid membership model and Nike has frequently expounded on the success of its own loyalty program, which has even led to a members-only store concept.
Foot Locker isn’t missing the cue on some of the experiential elements becoming more common in loyalty programs. Higher tiers are tempted with increased access to events and one of the loyalty program’s main perks, available to all members, is the ability to earn “Head Starts,” which allows customers to reserve new products at Foot Locker, Footaction and Champs.
Source: Retail Dive