As many computer retailers will tell you, when local competition gets tougher, a business can often live or die by return customers alone. One Victorian company has stepped into the limelight offering a retail-based customer loyalty program designed to increase return business spending and customer frequency.
Based on a frequent-flyer model, retailers install Lucky Buys' point-of-sale (POS) hardware enabling customers to earn points with each purchase, which can later be used towards buying products and services.
"Large corporations have always had a competitive advantage in their provisioning of very sophisticated loyalty programs, but now this is available to small and medium-sized business through Lucky Buys," said Bruno Campisi, Lucky Buys' director.
"The flexibility of the program makes it adaptable to almost any business. And since the release of the program in 1998, Lucky Buys has already proven to increase average customer visits by as much as 60 per cent," he said.
Lucky Buys recently rewarded its loyal customers at the company's quarterly draw of prizes at Melbourne's Planet Hollywood restaurant. So far the company has given away six cars and 35 Ansett holidays.
VeriFone, a division of Hewlett-Packard, has installed 330 POS terminals in over 250 retail outlets across Victoria. The adoption of Lucky Buys has seen over 150,000 cards issued since the program's inception in January 1998, according to VeriFone.
Lucky Buys' POS card processing hardware, consisting of a VeriFone Omni 395 terminal and P300 printer, can cost as little as $40 per week under a financing agreement.
A spokesperson also said that having established a successful operation in Victoria, Lucky Buys is looking to expand the network interstate.
Lucky Buys (03) 9882 3522