Rewarding Shoppers Beyond Purchases: Gymshark’s New Loyalty Scheme
- Gymshark launches its first loyalty programme
- Customers can collect experience points through purchases and training programmes
- Four tiers offer exclusive rewards like early access to events, discounts, and vouchers
- Community involvement in the programme’s design and rewards
- 12th consecutive year of growth with £607.3m sales, but declining profits
Gymshark has introduced its first loyalty programme, rewarding customers for more than just shopping. The scheme allows users to collect experience points (XP) through online purchases and completing workouts on the brand’s app. With four tiers, exclusive rewards include early access to events, product launches, partnership discounts, and vouchers towards future purchases. Gymshark prioritized community input in designing the programme and its rewards. Despite a 9% decline in pre-tax profit, the company reported £607.3m sales in the year to 31 July 2024. This marks their 12th consecutive year of growth while investing in omnichannel expansion.
Factuality Level: 7
Factuality Justification: The article provides accurate information about Gymshark’s new loyalty programme, including details on how it works and the rewards customers can receive. It also mentions the company’s recent growth and profit decline, as well as a workforce restructure. However, there is some irrelevant information at the end about other companies being subject to cyber attacks which does not relate to Gymshark’s loyalty programme.
Noise Level: 3
Noise Justification: The article provides relevant information about Gymshark’s new loyalty programme and its benefits for customers, as well as mentioning the company’s recent growth and profit decline. However, it briefly touches on cyber attacks involving other retailers which may not be directly related to the main topic.
Financial Relevance: Yes
Financial Markets Impacted: No
Financial Rating Justification: The article discusses Gymshark’s first loyalty programme and its impact on the company’s sales and growth, mentioning a 9% increase in sales to £607.3m and a 9% decrease in pre-tax profit to £11.8m. However, there is no direct mention of specific financial markets or companies being impacted by this news.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event is mentioned in the text and it’s not the main topic.
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