NEW YORK, April 23, 2018 /PRNewswire/ --
According to a research report by Markets and Markets, the loyalty management market is projected to grow from USD 1.68 Billion in 2016 to USD 4.59 Billion by 2021 and at a CAGR of 22.2%. The report explains that the rising need for competitive advantage among organizations and the need to increase their market shares are the major drivers for the growth of the loyalty management market. Other factors driving the industry include frequent shifts in consumer demographics, increasing focus of loyalty programs on customer segmentations, significant rise in use of new technologies, and increase in the number of cardholders. Snipp Interactive Inc. (OTC: SNIPF), InterContinental Hotels Group PLC (NYSE: IHG), American Eagle Outfitters, Inc. (NYSE: AEO), Nordstrom, Inc. (NYSE: JWN), Tractor Supply Company (NASDAQ: TSCO)
In an article published by Forbes, Chris Luo, VP of Marketing of loyalty technology company FiveStars explains, "From our experience, almost all retailers who generate some kind of repeat business have the opportunity to boost their ROI and profitability by increasing the retention of their customers. For fast casual restaurants, as an example, oftentimes 60% of customers never come back after their first visit."
Snipp Interactive Inc. (OTCQB: SNIPF) is also listed on the TSX Venture Exchange under the ticker (TSX-V: SPN). Last week the company announced that it, "has signed a new MSA with a global household and personal care products consumer goods company and the first Statements of Service worth C$860,000+ pursuant to the MSA. The MSA and C$860,000+ contract were the result of the Company winning a competitive bid to continue to provide services in 2018 for this client in the US and Canada. Snipp has been working with this client since 2016 and is delighted that it was selected to continue the relationship for a third year in a row. The new contract covers a single Q4 '2018 promotion and the MSA will cover a period of one year.
The Company is also pleased to announce the closing of its final tranche ("Final Tranche") of the non-brokered private placement (the "Financing"), previously announced on April 5, 2018. The Final Tranche was comprised of 10,000,000 common shares at a price of CAD $0.10 per share, for gross proceeds of CAD $1 million of which 59% was from insiders. The Company also closed an over-allotment (the "Over-Allotment") to the Financing comprised of 2,916,667 common shares at a price of CAD $0.12 per share, for gross proceeds of CAD $350,000. The four-month hold period for all shares issued under the Final Tranche and Over-Allotment will expire on August 19, 2018 in accordance with Canadian securities laws. Finder's fees were paid to an agent in connection with the Final Tranche and Over-Allotment and consisted of commission of CAD$36,000 and 337,000 warrants ("Finder's Warrants"), with 222,000 Finder's Warrants having an exercise price of CAD$0.10 and 115,000 Finder's Warrants having an exercise price of CAD$0.12. Each Finder's Warrant entitles the holder to purchase one common share at the applicable exercise price for a period of 2 years from the date of distribution."
"Winning a competitive bid is always a great testament to the relevance of our technology and the uniqueness of the services we provide to our clients. We are grateful for the opportunity to continue our relationship with this client," commented Atul Sabharwal, CEO and founder of Snipp. "In addition, with the closing of our over-subscribed financing we are now in a great position to continue to innovate and disrupt in our existing markets, while also dedicating resources to the new markets we have recently entered, such as Hospitality and Cannabis. In the Cannabis market in particular, we have seen a tremendous response from an exceptionally wide range of companies. This became obvious after just a few weeks of signups for our Cannabis Marketing Resource Center (CMRC). Participating companies have ranged from large established traditional retailers such as Loblaws and media giants like the Globe & Mail, to a diverse assortment of private and public players of all sizes in the US & Canada. Interest in our CMRC has been across the entire Cannabis ecosystem, signaling that there is clearly a need for our expertise. Based on this response, we are excited to invest in and leverage our capabilities to help companies in this emerging space."
InterContinental Hotels Group PLC (NYSE: IHG) is a global organisation with a broad portfolio of hotel brands,IHG. Last year, the company announced that it is working with the nation's leading online and mobile food-ordering company Grubhub®, and the world's leading provider of online restaurant reservations, OpenTable®, to offer members a unique takeout and dining out point earning benefit for using either service via IHG channels. These innovative collaborations make IHG® Rewards Club, the loyalty program for IHG, the first hotel loyalty program to offer members consistent point earning benefits for ordering delivery to the hotel or dining on or off property. Members will earn 500 IHG® Rewards Club points for their first completed OpenTable reservation via IHG channels. With each subsequent completed reservation via IHG channels, they will earn 300 points for dining at a restaurant at an IHG hotel or 150 points for any other restaurant reservation. This is in addition to the existing benefit for IHG® Rewards Club members to earn ten points for every dollar spent at restaurants at IHG hotels (excluding Kimpton®) and billed to their folio.
American Eagle Outfitters, Inc. (NYSE: AEO) is a leading global specialty retailer offering high-quality, on-trend clothing, accessories and personal care products at affordable prices under its American Eagle Outfitters® and Aerie® brands. In 2017, the company announced the launch of AEO Connected, a new, highly-digitized loyalty program serving all American Eagle and Aerie customers. Over 16 million current rewards members were immediately converted to AEO Connected, where they enjoy greater convenience, more rewards and an enhanced customer experience. Joining AEO Connected is free and can be done in stores, on the AEO mobile app or online. Customers are instantly awarded 500 points upon signing up,and begin earning rewards immediately. AEO Connected also offers enhanced perks for AE and aerie branded credit card customers, including free standard shipping and faster rewards.
Nordstrom, Inc. (NYSE: JWN) is a leading fashion specialty retailer based in the U.S. Last year, the company announced it is expanding its loyalty program in Canada, providing customers with a new opportunity to earn points for their purchases and access to exclusive perks. Canadian customers can apply for the Nordstrom Rewards Visa® credit card and earn points on their purchases wherever they shop. The Nordstrom Rewards Visa will be offered through MBNA, a division of The Toronto-Dominion Bank and the leading provider of co-branded and affinity credit card programs in Canada. All customers who use their Nordstrom Rewards Visa® credit card will earn two points for each dollar spent on purchases made at Nordstrom locations. In addition, cardholders earn one point per dollar on purchases made outside of Nordstrom anywhere Visa credit cards are accepted. For every 2,000 points earned, customers receive a $20 Nordstrom Note in their inbox that can be redeemed at all Nordstrom stores in Canada for any merchandise or services that they choose.
Tractor Supply Company (NASDAQ: TSCO) is the largest rural lifestyle retail store chain in the United States. Last year, the company announced the completion of its national rollout of the Company's Neighbor's Club loyalty program, expanding to the entire chain of 1,600 plus stores. Tractor Supply began its Neighbor's Club pilot program in October of 2015 to show appreciation to its loyal customers and to accumulate actionable customer data that would result in more relevant and personalized communications with customers. Through the loyalty program, Tractor Supply is able to thank participating members for their business, provide members with rewards and special offers they value, learn more about their purchasing trends and interests, and ultimately increase customer loyalty to Tractor Supply's stores.
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