Best Practices For Building A Fitness & Wellness Loyalty Program
Learn how to build an effective loyalty program for fitness & wellness brands that encourage repeat purchases, increase subscription rates, and more.Download the guide
From supplements to sport equipment, the fitness & wellness market is projected to reach US$19.27 billion in 2023. Notable trends in the fitness & wellness industry include the rise of virtual fitness and hybrid products, influencer and community marketing, and subscription products.
To stay competitive, fitness & wellness brands need to keep these opportunities in mind:
- The nature of fitness & wellness products, particularly consumables such as supplements, drives high lifetime value and purchase frequency
- Low barriers to brand switching negatively impacts retention rates
- Customers often look for brands with easy subscription options and an inclusive catalog, rather than purchasing supplements from a wide array of brands
- Customers rely heavily on photo and video reviews to gauge the potential impact of a product
- Fitness & wellness brands have the potential to build communities of like-minded customers with shared values and preferences
Loyalty programs help fitness & wellness brands make the most of all of these opportunities - they encourage high purchase frequency and high-quality photo and video customer testimonials, overcome low barriers to brand switching by rewarding customers for repeat purchases while fostering a sense of community, and turn user-generated content and social media interactions into key drivers for purchase decisions.
Today’s top fitness & wellness brands also use loyalty programs to drive revenue, increase average order value, and boost basket size, resulting in the following:
- 3% of revenue coming from loyalty
- 205% increase in average order value (AOV) from loyalty orders
- 176% in basket size from loyalty orders
Disclaimer: To create this guide, we assessed the top apparel brands using Stamped Loyalty to identify common success factors by looking at their loyalty program set-up, execution strategy, and performance metrics. While these best practices are based on methodical quantitative and qualitative research, they are only recommendations, not requirements. They also do not guarantee the same results or level of impact demonstrated by these brands. We always recommend that brands assess their own needs, goals, and outcomes to determine what will work best for them.
To do so, brands should look to Stamped's analytics dashboard, which helps brands assess their loyalty program's performance by evaluating critical metrics like loyalty program revenue, changes in basket size and Average Order Value. Brands should regularly assess and optimize their loyalty setup by visiting the Program Health section.