The U.S. market for health and wellness products is growing at a rapid pace and is expected to reach $170 billion by the end of 2012. Companies competing in this space will strive to boost consumer spend at each visit by providing a one-stop store for all their needs – pharmacy services, OTC medicines, homeopathic, beauty, and personal care products. To maximize customer spend while also promoting repeat shopping, companies in this space desperately need to have loyalty programs that cover all their touch points with the customer.
When Pharmaca, a pharmacy that looks to revolutionize the way we shop for health and wellness products, embarked on a loyalty initiative, one of the company’s goals was to reinforce its branding as a go-to wellness destination to drive higher engagement between pharmacy and retail. They sought to encourage customers to fill both their conventional prescriptions needs and their need for alternative products in one location.
TIBCO Loyalty Lab enabled Pharmaca’s loyalty program to see impressive results, a whopping 50 percent increase in the number of customers’ cross-shopping retail and pharmacy, and a 10 to 15 percent increase in per-member spending since the program launched. TIBCO Loyalty Lab works with businesses of various types to develop a loyalty program to meet their goals and better enhance customer interaction, as well as sales.
“We gained enormously valuable insights into our customers’ shopping behavior.”
-Laura Coblentz, Pharmaca Vice President for Marketing and Innovation
Two years after deploying the program, 65 percent of sales and 51 percent of all transactions at Pharmaca are processed through the loyalty program. With the market for health and wellness products to boom further from here, Pharmaca’s integrated loyalty provides a healthy start for the company.
Learn more by watching this presentation.Photo Rights: spotreporting