Retail insurance holders believe that customer loyalty could have been affected by the ongoing economic crisis, a study has suggested.
Research carried out by Barclaycard discovered that 62 per cent of UK retail insurance holders have seen the number of store visits from both new and regular customers has been damaged.
In addition, more than three-quarters of respondents think that larger retail insurance holders have a competitive advantage over smaller enterprises, because they can offer loyalty schemes to attract people to their shops.
The research also found that one-third of businesses would provide a loyalty scheme for their customers if they could find an option which is appropriate.
Dan Salmons, director of payment innovations at Barclaycard, commented: "Our research shows that there is a demand for a loyalty scheme that is simple to use and will benefit retailers whether they are a corner shop, restaurant or supermarket."
Becky Sheetz-Runkle wrote on examiner.com that firms should take the time to thank customers for their continued loyalty.
