Innovating Retail Experiences Through Loyalty Schemes

Rachel Eyre is Chief Customer and Marketing Officer at Morrisons, a heritage business in the UK, celebrating 125 years in 2024. Rachel explains how the Market Street proposition in Morrisons with its fresh, British sourced produce, appeals to traditional older Morrisons customers, but is now resonating with younger shoppers. Although big trolley shops are still popular, Rachel outlines how smaller, more frequent basket shops are becoming the norm. Rachel and Rory discuss Morrisons' vertically integrated business model, with it's own manufacturing businesses giving it a point of difference to competitors, a story which needs to be told to customers through brand marketing.

Although there have been a lot of changes in loyalty programmes in recent years, Rachel feels that the recent update of the MoreCard scheme with its "Fivers" has enabled Morrisons to avoid some of the pitfalls of loyalty schemes and leapfrog ahead in terms of innovation.

Competition for every pound is intense in this sector and despite the offers and discounts Rachel explains that still the biggest driver of choice is convenience of location.

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