University of Rhode Island students save every penny they can by joining rewards programs at any store possible.
Nowadays, it is harder to come by a job that will allow students to fulfill their obsession with shopping, however, rewards programs are that little bit of hope for every college student that is trying to save money. It is in students best interest to join rewards programs in order to save money on a plethora of objects from groceries to clothes. Some may believe that rewards programs are not worth it, since you need to spend money in order to receive points, however, many people on campus tend to disagree.
These days, the majority of stores offer rewards programs, but which ones are the best to join? After surveying at least 100 students on campus, the results are personally shocking. It was found that American Eagle is the most popular rewards program. Almost half of the students that were surveyed were apart of American Eagle’s rewards program. Some may wonder why this is the most popular and it is simply because of the rewards the students receive.
“Since I’m a broke college student, it’s nice to get coupons for American Eagle every week or two,” Erin McGowan said. After speaking with her, she highly recommended their rewards program.
After doing some research, the conclusion was drawn that many girls like the fact that if you buy five pairs of jeans, you get a pair free. Jeans are always a must for girls closets, therefore, if they buy all their pairs at American Eagle, it really benefits them since they will eventually get a pair free. Another factor to this rewards program is that you get a coupon for your birthday, which is always a great bonus. The last factor is that each member receives a certain amount of points after spending money online or in store. These points end up leading to different rewards that have a certain dollar amount for you to spend at the store. Overall it seems that every student who loves clothes from American Eagle should join their rewards program.
Of course there are many more rewards programs that students should join, such as CVS and Dunkin. These were in the running for the top three programs in the survey as well. These are highly recommended due to the fact that these two stores are on campus. Both of these programs offer a plethora of deals and rewards for the frequent shopper.
“We’ve learned through research that 80 percent of your revenue comes from 20 percent of customers,” said Michelle Leys, faculty member in the department of textiles, fashion merchandising and design. “So, if you want to really grow your business, you really have to focus on those 20 percent of customers and one way to really get their loyalty is to offer some sort of incentive for them to purchase at your store.”
One of the courses offered at URI is called Retailing Management, which Leys taught last semester. Many stores follow the 80/20 rule and, like Leys said, in order to reach this goal, the stores must offer some incentive to their customers.
The 80/20 rule is basically that the majority of your sales should come from 20 percent of your customers. This means that those 20 percent of customers are loyal customers that always bring in that 80 percent of revenue that keeps the business going. This loyalty is reached by offering a rewards program that keeps them coming to the store in order to get that chance of earning money towards shopping there.
After surveying students and interviewing a teacher, it is found that rewards programs are really the best way for students to save money. So go and join your favorite stores rewards programs in order to receive coupons and free items.