Innovation of the Week is a subscriber-only series highlighting retail initiatives that have caught the eye of our team. Every week, we will bring you new ideas and case studies that link to the trends in our Retail Horizon 2024 reports – across consumer, technology, sustainability, and economy, policy and industry.
What is it?
Carrefour is partnering with Netflix to offer additional loyalty benefits for its Carrefour Plus members. Customers living in the Rouen and Bordeaux regions of France can sign up for €5.99 to receive benefits including a 10% discount on Carrefour private label products, a standard Netflix subscription with advertising and free delivery on orders over €60.
Why does it matter?
In the face of intense market competition, loyalty schemes are being ramped up to increase benefits and deepen engagement with customers. They also offer valuable data and insight to retailers to understand customer behaviour and identify potential new opportunities.
The addition of streaming benefits at Carrefour echoes Amazon Prime with its delivery and streaming benefits and also Walmart, which has introduced Paramount+ to its Walmart+ membership.
“At Carrefour, we are always looking to innovate with new services and promotions to improve the experience of our customers and protect their purchasing power. With the Carrefour Plus programme, in partnership with Netflix, we want to help our customers to not have to compromise between entertainment and food”
Caroline Dassié, executive director of global marketing, customers, brands and own brands, Carrefour
Strategic implications
This move will be popular with customers and benefit both Carrefour and Netflix, by driving loyalty and increasing subscriptions during a period when consumer budgets are tight. The potential advertising and media opportunities and the data gained from the programme could drive further revenue opportunities. Amazon also recently announced plans to introduce advertising to Amazon Prime.
Winning strategies
- Elevated customer experience
- Cross-industry collaboration
- New revenue opportunities
Carrefour chief executive Alexandre Bompard will be speaking at World Retail Congress 2024 in Paris.
In bringing together the leaders, founders and owners of today’s major retail businesses, there are few more significant gatherings of the industry than World Retail Congress.
For 2024, the congress will be laser-focused on this year’s theme: High-Performance Retail. Across three days, unlock your business’ full potential and go for gold, by immersing yourself in an unrivalled programme of content and satellite learning and networking events.
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