Prospecting: GameStop Powers Up With Loyalty Rewards Program
Consumers can sign up for the PowerUp Rewards loyalty program on GameStop's website or at one of the brand's brick-and-mortar locations. Members earn loyalty points for purchasing used games and accessories from GameStop, which can then be redeemed for rewards such as GameStop and iTunes gift cards, exclusive invites to member-only events, and other perks such as sneak peeks at newly released games. It's free to sign up for the basic program, but if customers want more, a Rewards Pro membership is available for $14.99.
GameStop worked with loyalty management company Brierley+Partners' LoyaltyWare technology platform, which is integrated into the retailer's existing client systems. Brierley+Partners also supports PowerUp Rewards by providing all reward fulfillment services. "We're proud to be a part of this phenomenal success for GameStop," said Jim Sturm, Brierley+Partners' president and CEO, in a company press release. "PowerUp Rewards was designed to resonate with the gamer audience, and clearly GameStop's customers have embraced the program."
With over 12.5 million members acquired in such a short time period, GameStop has realized that providing content based on a member's interests translates into sales. Not only do PowerUp Rewards' members shop three times more often than nonmembers, but they also shop in many more channels than nonmembers.
"[GameStop Rewards members] represent over 60 percent of our transactions in the United States," said GameStop CEO Paul Raines in a recent conference call with the company's stockholders. "We now estimate that the PowerUp Rewards customer base represents 25 percent to 30 percent of all video game consumption in the United States. New hardware and digital content will become holiday items, and PowerUp Rewards will bring us more share of wallet from consumers than ever before."