Dive Temporary:
- True Faith is rebooting its loyalty program forward of Black Friday, the attire and accent model introduced Monday. The corporate has modified the identify of its loyalty program from True Fam to True Rewards.
- This system has 4 tiers. The entry stage, Insider, is free to affix; Trendsetter standing is reached when $200 or extra is spent yearly; Icon standing is reached when $500 is spent per 12 months; and a secret fourth tier is for the corporate’s most loyal prospects.
- Along with reductions and promotions, the loyalty program will present prospects with entry to music, sports activities and different cultural occasions with True Faith companions and Crew True content material creators. Consumers may earn rewards for model referrals, social media follows, likes, shares and posting evaluations.
Dive Perception:
True Faith is getting inventive in its makes an attempt to woo prospects. Final month, the attire model featured Grammy Award-winning rapper Megan Thee Stallion in its vacation advert marketing campaign. The corporate this 12 months additionally launched its Crew True content material creator platform, the place its lineup of actors, musicians, athletes and different noteworthy personalities will create content material for the model and have interaction with prospects at varied occasions.
With the True Rewards program, the corporate goals to provide prospects experiences that they could not in any other case entry and supply perks past typical reductions, True Faith Chief Advertising Officer Kristen D’Arcy stated.
Moreover, to be taught extra about its prospects, the corporate has built-in its loyalty program into its in-store point-of-sale system, per the press launch.
“True Rewards permits us to realize deeper insights into our shoppers’ purchasing preferences to allow higher personalization and finally enhance buyer lifetime worth,” Michael Buckley, CEO of True Faith, stated in an announcement. “This enhanced program rewards purchases each in-store and on-line to supply us with a extra sturdy omnichannel view of our buyer.”
Alongside its buyer expertise enhancements, True Faith has additionally constructed out its bodily retailer attain. Final 12 months, the corporate introduced its plans to open shops overseas in India, Indonesia, South Korea, South Africa, Qatar, Lebanon, China and the Philippines. Earlier this month, the corporate stated it will open three new shops in Texas, Illinois and New York.
True Faith is a part of a rising cohort of manufacturers and retailers which can be leaning into their loyalty applications to drive progress. Whereas Wayfair and Foot Locker debuted new loyalty applications this 12 months, Ulta Magnificence and J.C. Penney have just lately revamped their loyalty applications.
Analysis means that retailers’ concentrate on rewards applications may sway consumers of their favor. Seven in 10 respondents to a Snappy survey launched in July stated loyalty applications are a crucial think about deciding which corporations they patronize. The identical proportion stated they might join a loyalty program earlier than shopping for from the model for the primary time and three-quarters stated they might spend extra money as a loyalty member.
True Faith’s investments in its loyalty incentives observe its second chapter in 2020. The corporate exited its Chapter 11 chapter with a court-approved plan to reorganize underneath new possession.
