![]() “This is an era of unprecedented change for retail,” said John J. And from high-end retailers like Saks Fifth Avenue to discounters like Target, loyalty is an important strategy to thrive - or survive - in a challenging new landscape. Sears Holdings is putting huge emphasis on its Shop Your Way rewards program, which accounted for 70 percent of the company’s sales in the third quarter of last year. Best Buy started a revamped loyalty program in the fall, in the weeks leading up to the holiday season. Membership and loyalty programs have been a part of the retail landscape for years, but they have become increasingly important as retailers vie for customers both online and in their physical stores. “The moment is out there, and they’re seeing it too,” she said. White said some of the bank’s retail clients had requested just this sort of service. Many retailers are already trying similar strategies on their own, but GE Capital, which works with 175,000 retailers on branded credit cards, sees loyalty programs as an area that is “growing like crazy,” according to Toni White, the bank’s chief marketing officer. It will allow customers to sign up for a credit card that feeds into the program and for which the retailer can devise reward programs. The product is called Integrated Multi-Tender Loyalty and is being developed with Kobie Marketing, a company that builds loyalty programs. That means they can be monitored across any platforms they might use to interact with the company, like Facebook, Foursquare or an app, and their purchases can be integrated into that profile regardless of how they pay. ![]() GE Capital and a partner are teaming up on a new product, to be announced this week, to help retailers set up and maintain loyalty programs that will create a unified profile for shoppers. Now, the bank is going deeper into retailers’ territory, and the lives of their customers, by getting into the business of loyalty programs. ![]() Its logo may not be prominent in stores, but GE Capital Retail Bank has a hand in the branded credit cards of tens of thousands of retailers, including J.C. Sears Holdings’ Shop Your Way rewards program accounted for 70 percent of the company’s sales in last year’s third quarter. ![]()
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