Following on from my last blog, the Diamond Jubilee was a celebration of the best of British - an event that showcased loyalty and the emotions behind it. While market economics have impacted consumer loyalty in recent times, the past few weeks have reinstated a sense of loyalty across Britain - making an unsaid commitment to bolstering the economy. According to the British Retail Consortium (BRC), retail sales by value were up 1.3% on a like-for-like basis in May, following a sharp 3.3% decline in April.
In a year that has seen many retailers shut shop and the EU facing troubles of its own, events like the Jubilee have illustrated that the British public can show great levels of loyalty. With the European Football Championships beginning and the Olympics less than 50 days away, UK retailers should now be looking to build on the feelings of loyalty and patriotism that the Jubilee has created. Working out how to best influence this new sense of loyalty in a positive and engaging way through customer loyalty schemes and interactions could be key in guaranteeing and encouraging long-term customer retention.