Monday, November 25, 2013
World of Finance: It’s all about the points-3
The online businesses are not behind with as they are giving prizes, discounts and points to their loyal customers. I have also used these kinds of points from the credit card company where I used the accumulated points to purchase air fare and it saved us a lot of money. So as competition heats up and as more and more companies fight for the market share of the same group of people and hold on to them, you will be seeing more and more variation of points being offered on purchases which can then be translated into more purchases as all these points are already built into the sales, discount and other corporate sales and marketing strategy. A new variation is that you don’t get any points but you need to buy a certain dollar amount of products before free shipping kicks in. And this type is gaining popularity among online stores. My whole above discussion is that the winners in this whole points game are both the customers and business because the customers gain when they purchase and then get more stuff by redeeming their points and businesses have already incorporated all these points and perks into their prices of products so both are ultimately winners but more so are the businesses as mentioned above. Although I am not addicted to earning points or going crazy over it but it is nice to see that whenever you spend money, you can accumulate points which you can redeem for cash or as the need may arise.