- Make more frequent store visits, increasing from 1.4 per month to 1.7 per month for nearly four extra trips per year. The higher traffic continues through normal retail and seasonal cycles, and translates into a 29% overall boost in store visits.
- Increase incremental retail sales between 39-86% than customers who pay with other methods.
- Result in greater lifetime value, as retail credit cardholders stay more engaged, and are 72% less likely to attrite or leave the retailer. After the larger initial purchase, customer transactions may return to the average ticket amounts observed before the acquisition of a store card (i.e., approximately $55 basket size, on average); however, increased foot traffic and sustained card usage drive retail sales, as store cards may provide compelling value propositions in the form of exclusive cardholder benefits and discounts and point programs.
- Save the retailer about 2% to 4% in interchange fees on every transaction processed on their store cards, contributing to greater profitability.
- Provide 100% traceable sales and a mechanism for retailers to capture information on high-ticket and special purchases and generate repeat store visits through enhanced, value-added card benefits.
GE Capital Retail Finance’s Branded Credit Shopper Research Finds Card Programs Reduce Customer Attrition By 72%
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