Tesco, one of the world’s largest retailers, started out with just a single store in the UK. Owing to its success are a few unique strategies. Tesco operates a rewards system that encourages customers to return to their stores. Additionally, Tesco has utilized extensive marketing research to create products aimed at non-saturated markets.
Key Takeaways:
- When enough points have been accumulated, these points can be exchanged for cash vouchers which can be used in-store.
- A conventional rewards system has proven to be extremely successful in cultivating brand loyalty, especially when it comes to necessities.
- The ultimate aim for these venture brands is to create products that are dissociated with the Tesco brand name and can be sold in non-competing retailers.
“A conventional rewards system has proven to be extremely successful in cultivating brand loyalty, especially when it comes to necessities.”