Hong Kong is an internationally renowned shopping paradise, and the retail sector is one of the main drivers of the local economy. According to the provisional estimates of the Census and Statistics Department, the total retail sales prices in the first eight months of 2020 decreased by 30.2% compared with the same period in 2019. Social distancing measures and a sharp drop in visitor numbers have left the retail sector facing its toughest winter ever.
In the context of the ongoing pandemic, the government’s relief measures, while useful, are clearly inadequate. The retail industry has to take the initiative to turn the tide of the pandemic, as exemplified by the recent yuu and The Point mega rewards schemes.
Billed as the largest awards programme in Hong Kong, yuu brings together more than 10 brands from the Dairy Farm Group on a single digital platform, including wellcome, Mannings, 7-Eleven, IKEA, KFC, Pizza Hut and Market Place. Members can earn Points at over 2,000 shops and restaurants, manage Points and redeem rewards through the yuu App.
Sun Hung Kai Properties’ The Point is the largest mall rewards programme in Hong Kong, covering 20 SHKP malls, and members can earn points at more than 2,600 stores. In addition to recruiting new members, The Point has also attracted the return of old members from SHKP malls, which now has more than 900,000 members. Since its launch, The Point has not only increased the average spending of members and the amount spent across malls, but also helped merchants effectively understand the opinions and needs of customers.
The use of consumer data is the main reason for the success of the reward programme. Advanced analytics can turn data into commercially valuable data, such as customer preferences and consumption patterns. This allows businesses to develop an effective marketing strategy to launch new products or remarket to interested audiences.
The Digital Footprint Intelligence (DFI) system launched by YouFind is similar to the principle of the Rewards Programme. DFI’s system can effectively organize the data of website visitors and track their online activities, helping you understand their shopping habits and preferences. Whether you are an existing or potential customer, DFI can help you uncover the business opportunities behind your digital footprint.
If you are interested in learning more about it, you can talk to our professional consultants
Scan the WhatsApp QR Code below to follow YouFind Ltd to learn more
