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For companies like Costco, Starbucks, and Dicks Sporting Goods, which have robust and well-established loyalty programs, a common thread is that rewards members are the biggest spenders. "For price-conscious consumers, loyalty programs provide opportunities to spend more comfortably thanks to discounts and deals." And Dick's has said loyalty members who also use its fast-growing youth sport management software spend twice as much with the retailer than loyalty members who don't. Beauty store chain Ulta, which already has its Ultamate Rewards program, is testing a complimentary program that includes 42 mini-games, Glossy reported in May. Of course, effective loyalty programs aren't just about encouraging existing members to spend more, they also depend on getting more casual shoppers to sign up.
Persons: , Jennifer King, Laxman Narasimhan, Dick's, Etsy, Harry Lawton, Lawton, aren't Organizations: Service, Business, Costco, Starbucks, Dicks Sporting Goods, Tractor Supply, Gold Star, Tractor Supply Company, Neighbor's Club, Target Locations: eMarketer
Tractor Supply CEO Hal Lawton told CNBC's Jim Cramer on Thursday that a substantial number of Americans are moving out of cities, and many are headed to rural areas. "They've continued, albeit to a lesser absolute number, but net we're still seeing significant migration out of urban America, and most of that migration, or a lot of it, is going into rural America," Lawton said. Tractor Supply is a retail chain that sells equipment for home improvement, such as supplies for gardening and farming. Lawton told Cramer that the company has been dealing with business headwinds, with consumer spending trends swinging from goods to services. But he expressed optimism for the future, saying Tractor Supply can "begin to see light at the end of the tunnel now against those headwinds."
Persons: Hal Lawton, CNBC's Jim Cramer, Lawton, They've, Cramer Organizations: Tractor, Neighbor's Locations: America
Goldman Sachs analysts said this week there is a slate of stocks coming out of earnings that are just too attractive to ignore. CNBC Pro combed through Goldman Sachs' research to find the firm's top ideas for companies exiting quarterly reports. They include Tractor Supply, Charter Communications , Exxon Mobil , General Motors and Caterpillar. Tractor Supply The farm supply retailer continues to impress, according to Goldman analyst Kate McShane. The firm came away even more positive on the name after Tractor Supply's robust late January earnings report.
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