The future of retail may lie in the power of a shopper group called Brand Mavens: digitally engaged, brand-loyal consumers who are looking for the ability to use one source for completing payments, accessing loyalty points and redeeming coupons and promotional offers.
Brand Mavens — the ultimate brand advocates — currently comprise approximately 53% of the buying population in the U.S., according to a recent consumer survey conducted by Retail TouchPoints and CashStar, in conjunction with the Texas A&M Center For Retailing Studies.
Brand Mavens are tapping what’s called branded currency during their shopping journeys. Branded currency is a unified and seamless way to manage purchases across channels, devices and geographies. It could be in the form of a gift card integrated with payments, loyalty rewards, coupons and promotional offers.