We are about halfway into 2021.
For most of us, this year too seems like a reflection of last year. The Lion City is not an exception too. Of course, the changes that pandemic has brought were inevitable and Singaporeans are now adapting to the post-pandemic habits. It was noted that last year 31% of Singaporeans actually shopped online for the first time during the pandemic! The same study also predicts that even when the pandemic ends, half of Singaporeans would prefer shopping from large online marketplaces. This sudden surge in ecommerce shopping activities have brought a twist to the current retail arena in Singapore.
Retailers and marketers are thus focusing more on creating a loyal customer base. Combating the sky-rocketing shop rental costs and reduced store footfall, loyalty programs could be the hook retailers are looking at. The importance of having an omnichannel loyalty program has gained more momentum than ever. A report by FIS (payment software) claims that 81% of Singaporeans prefer shopping with the retailer who has a loyalty program. Sadly, 48% of Singaporeans feel that they have very limited engagement with the loyalty programs. So before we distill the fine practices of a loyalty program, let’s take a closer look at some of the top loyalty programs in Singapore that have been there and done that, and that too exceptionally well.
1. The GrabRewards – Cashless First, Loyalty Program
Leading with the changing environment around is Grab Rewards. A leading public infrastructure provider, Grab is now home to the popular App offering hyper local services as well. Their loyalty program has gain more precedence in the last year owing to its consistent intent and endeavor of promoting cashless, contactless payments by offering more rewards. They have a 4-tiered membership where the members can climb from Member to Silver to Gold and finally Platinum by adding more points. As they have introduced GrabPay Wallet as the mode of payment, it allows its members to earn more points through the same tier benefits if they pay through Grab wallet. The best part is its point expiration policy. As long as you make 1 Grab cashless transaction within the next 6 months of your last transaction, your points will continue to accumulate.
2. TungLokFirst – Instant Gratification Loyalty Program
With over 35 restaurants across Asia, the TungLok Group is a delight for the Singaporean diners offering both traditional Chinese fare as well as the Modern Chinese cuisine in Singapore. TungLokFirst, their loyalty program enables multiple touch points by offering members to redeem their points across different restaurants under the group. It provides personalized offers, vouchers, discounts and other delectable privileges to extend an unparalleled dining experience to its loyal customers. Besides new sign-up bonus, online sign-up bonus, birthday month special offers; members can also get more rebate during non-peak hours from Monday to Thursday on a-la-carte orders and set menus. One of the unique privileges that its members can avail is the dynamic rebates on their bill instantly.
3. CapitaStar – 24/7 Loyalty Program
Hailed as Singapore’s leading lifestyle and shopping rewards program, CapitaStar is a 24/7 app-based loyalty program that offers members to spend across CapitaLand Malls, eCapitaMall and Capita3Eats. Part of the CapitaLand Rewards program, members earn stars and rewards for every transaction they make in the above outlets. This multi-store cardless rewards program is also available in China and Malaysia besides Singapore. With over 1.1 million members, this program has no membership fee or expiry date. It also offers additional rewards for the birthday month as well as event invitations and promotions to its exclusive member-only events at the participating CapitaLand Mall. It issues a car parking e-voucher that could be used with all the participating CapitaLand malls.
4. NTUC FairPrice Group’s Plus – Coalition Loyalty Program
Introduced by the NTUC Link Private Limited, Plus is Singapore’s most popular coalition loyalty program. With a member count touching 2.3 million, it partners with 1000 outlets and allows members to earn LinkPoints which can be earned online as well as in-store purchase. These points can be redeemed for instant savings or exchanging points. In 2020, NTUC collaborated with Kopitiam and NTUC Foodfare to form FairPrice Group. Created for its members, the Plus App offers a feature – Stamp Your Way which allows members to check-in every time they visit a store and collect a reward on completing a certain number of visits. Members can also review their LinkPoints as they shop with different brands in one single-view.
5. Healthy 365 – Health First, Loyalty Program
Spearheaded by the Ministry of Health and Health Promotion Board Singapore, this app-based loyalty program aims to inculcate healthy living habits. Given the pandemic has further highlighted the importance of health and immunity, this app is gaining traction amongst Singaporeans these days. Users can maintain a log of routine activity like counting the total number of steps per day, exercising time, etc. It also offers a wide array of health articles, go-to health directory of the region and interesting challenges. When a user signup for these health programs and challenges, they earn Health points which can be redeemed to purchase healthier food options, groceries and drinks.
The Future of Loyalty Programs in Singapore
As Singaporeans stay merry with the freebies attached to the loyalty programs, a recent survey states that non-expiring points, cashbacks and rewards with multiple retailers have proven to be the sure-shot way to encourage members to sign up for a new loyalty program. With new innovations like- Friends and Family (group loyalty) and partner programs making inroads; it’s time brands rethink their loyalty strategy and implement the right mix suited to their loyal customer needs.