Marketing Strategies in Costco's Retail Stores
Retail Store Loyalty
Besides being one of the leading U.S. retail stores, Costco has won the hearts of many customers. As a customer, I have maintained my loyalty to this retailer, thanks to their small, surprise gifts that often remind me to visit the store in a delighted manner. Often, these unexpected gifts reflect the law of reciprocity, meaning the company responds to my positive actions with a positive action (Dahmen, 2004). The gifts range from simple things like a digital card. However, I feel that Costco could improve their customer experience by offering a personalized, compelling and seamless brand experience. While seeking to satisfy consumers' demands, the retailer must focus on the degree of involvement that consumers have with their brands across channels. Therefore, Costco must deliver value to me to continue earning my loyalty. In the wake of e-.commerce boom, Costco needs to think about how they can expand their loyalty strategies to the online environment. As one of their consumers, I have embraced social media and mobile devices; thus, Costco must understand that the loyalty mix has become significantly more complex.
Games are another approach that Costco uses to ensure that I remain loyal. This strategy has helped in solidifying their brand image. The company organizes frequent contests and sweepstakes whereby the winner gets rewards. Since 2011, I have been playing their games, and this proves my level of loyalty. For instance, once I place two unique orders, regardless of the price, I qualify to play a game for an opportunity to win free stuff.
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Much marketing research has been done on analysing customer behaviour and retention. As a consequence, it is crucial for online companies to create a loyal customer base, as well as to monitor the profitability of each segment (Reinartz and Kumar, 2002) Definition of customer e-loyalty Customer loyalty has been defined as "a deeply held commitment to re-buy or re-patronize a preferred product/service consistently in the future, thereby causing repetitive same-brand or
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