Recent days have brought new evidence of the importance of robust loyalty and rewards programs in retail – an area of ongoing innovation, and where merchants of all types can stand apart in a fiercely competitive industry.
Another effort that underscores the importance of better loyalty and rewards programs involves Trax, a global technology company based in Singapore. The company recently acquired U.S.-based Shopkick, a rewards app that tracks customer behavior.
The move adds to Trax’s stable of retail tech. Shopkick users can earn rewards and gift cards by watching videos, browsing offers, traveling to stores or scanning items on shelves. It was not disclosed how much Trax paid for Shopkick, but the company was acquired by SK Telecom in 2014 for $200 million.