Weekly Roundup: Co-op overhauls loyalty scheme, Aston Martin and The Sphere, Marketing budgets get unexpected boost

INDUSTRY NEWS

Marketing budgets get unexpected boost despite economic uncertainty

A net balance of 14.7% of companies made upward revisions to their marketing budgets in the fourth quarter of 2023, the highest recorded by Bellwether in nearly a decade, despite the challenging economic environment.

Currys CEO says brand focus has led to ‘consistently improving’ customer confidence

Currys’ goal to create “customers for life” by shifting its marketing focus to brand and services over product is paying off, according to chief executive Alex Baldock.

The retailer has invested heavily in highlighting the expertise of its employees over the past two years, with its first brand-led campaign, ‘Beyond Techspectations’, focusing on the long-term value it offers to consumers through aftercare and credit.

Co-op overhauls loyalty scheme to focus exclusively on member pricing

Co-op is updating its rewards scheme so it is based entirely on exclusive deals and discounts for members, which it claims is “financially much more rewarding” than its current loyalty programme.

The retailer’s existing scheme allows Co-op members to earn 2p for every ￡1 they spend on particular branded products and services, which is paid into a “digital wallet”. In April last year, it introduced member pricing, offering exclusive discounts for those signed up to its membership scheme.

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