retailers must now come up with a wide range of attractive offers for customers, otherwise why would anyone sign up?
Howse Jackson Marketing, one of the UK’s leading brand partnership agencies, has released a new whitepaper examining the imminent Davey store card agreement.
The Davey agreement, drawn up by Coalition minister Ed Davey, will force store cards to cease their use of immediate in-store discounts. Specifically, retailers will no longer be able to offer discounts and free gifts within the first seven days of a store card account being opened.
The measures, which come into effect on April 1st 2012, will not be legislated into law but will instead form part of a voluntary agreement between the Government, the British Retail Consortium and the Finance and Leasing Association. Additional measures include a good practice training scheme and a ban on direct commission for sales staff offering store cards.
The store card whitepaper concludes that without the benefit of instant discounts, retailers will need to add a significant loyalty component to their store cards. This can only be achieved by retailers teaming up with other brands to provide compelling long term offers via affinity marketing.
Download the store card whitepaper here.
Nick Howse, Managing Director of Howse Jackson Marketing, says: “This is a game changer for large UK retailers. Over 13 million store cards are in circulation but their primary attraction was the initial sign-up discount. With that incentive removed, retailers must now come up with a wide range of attractive offers for customers, otherwise why would anyone sign up?”
For further information please contact Jez Walters on 07931 381209 or email email@example.com
About Howse Jackson Marketing:
Howse Jackson Marketing is one of the UK’s leading affinity marketing agencies specialising in bringing brands together for mutual commercial benefit. Clients include a number of FTSE 250 retailers as well as charities, education establishments and trade unions.
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