Many Bucks retail businesses could take a leaf out of the book of Harry Ganz, owner of The Garden Pharmacy in Covent Garden. According to a report by Rachel Bridge in The Sunday Times, several years ago he launched a loyalty card for customers followed by an online version for regulars buying through his website.

For participants the scheme accumulates points worth 5% of the amount they spend. Then virtually each half year (January and July) Mr Ganz sends them a money-off voucher to buy more things in his store. Apparently half of his online customers and a third of his in-store buyers are members of the scheme so every six months around 8,000 qualify for the vouchers.

Ganz reports that customer feedback concerning the scheme is "fantastic". He says: "People come in waving their vouchers." And whereas January used to be a quite month now The Garden Pharmacy gets "a nice peak of business."

Customers who, perhaps, had forgotten the store are drawn back into it once they receive their voucher.

Indeed, the point is underlined in bold that customers are a businesses' most important asset. So as the business grows it is vital to develop fresh ways to hold onto existing customers as well a pull in new ones.

(c)Andrew Leech
andy@buckshouse1.demon.co.uk
Bucks House Publishing