🏙 Economics in the City Part 103: "Do you have a loyalty card?"
At the checkout of supermarkets and drugstores,
there is a question you are almost always asked.
"Do you have a loyalty card?"
It is so routine,
that we answer almost reflexively.
However,
sometimes I stop to think.
How much is that one point actually worth in yen?
🛒 Is 1 point equal to 1 yen?
At many stores,
you can use 1 point as 1 yen.
Thinking about it that way,
it almost looks like the store is giving away money
every time you shop.
Triple points.
Five times points.
Ten times points.
There are days when it looks like they are being very generous.
💳 Are stores losing money?
If they were truly just losing money,
the point system would have disappeared long ago.
The reason it continues,
is because there is a benefit for the store as well.
You somehow feel like going back
to the stores where you collect points.
That psychology,
is something many people might relate to.
📱 A small wallet inside an app
Recently,
apps have become more mainstream than cards.
Showing your smartphone at the register.
Coupons arrive.
Campaign notifications arrive.
Before you know it,
the gateway to shopping has moved into your smartphone.
Point systems are
not just simple discounts,
but have evolved into a "mechanism"
that connects stores and customers.
📊 What stores are looking at
Of course,
points also have another role.
What kind of products are selling?
What time of day do customers visit?
What kind of campaigns attract a response?
Stores are looking at
a lot of information every day.
These serve as important hints
for thinking about inventory and store layout.
💰 The price of 1 point
We see
1 point as 1 yen.
However,
the value for the store
is not necessarily 1 yen.
Getting you to visit again.
Getting you to remember the store.
Getting you to open the app.
When you include such effects,
1 point might also contain
a different kind of value.
🏙 Small Economics at the Checkout Counter
Stock prices and exchange rates can sound like distant, abstract concepts.
However,
in our daily shopping,
we are participating in small-scale economic activities.
Collecting points.
Using them.
Choosing which store to buy from.
The accumulation of such casual actions
might just be what supports the businesses in our town.
【A Short Column: A Little Pleasure in Your Wallet and Smartphone】
I don't chase points desperately, but the moment I'm asked at the register, "You have points saved up, would you like to use them?" and I reply, "Oh, yes please," is a nice feeling. That moment when a small fraction of the cost is deducted feels like finding a little treasure, and it makes me happy.
The stores likely have various objectives, such as encouraging repeat visits or gathering data, but we as consumers can set those complex matters aside and simply enjoy that "small sense of savings" at our own pace.
The points quietly tucked away in our wallets or smartphones are a modest spice that adds a bit of playfulness to our everyday, casual shopping.
📝 In Conclusion
This article is an attempt to decipher economic mechanisms from the scenery of the city.
Even in the question "Do you have a point card?" asked at the register, there is an interesting relationship hidden between the store and the customer.
I hope you enjoy this as one perspective.
You can find various things summarized here👇
#ReadingTheEconomyInTheCity
#Economy
#PointCard
#PointActivity
#App
#Marketing
#POS
#POSData
#DataAnalysis
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