How it works
Imagine you could convince your customers to spend all of their food budget in your stores. In return the customer would get much more than just milk and bread in the basket when shopping. Extra bonus, free TV- and music streaming and gift certificate for gasoline are just some examples of the benefits the customer gets from being loyal to you.
How Prime is set up in Coop Denmark
Prime Account is a feature that enables automatic monthly transfer of money to an account accessed through the app. The account is used to do purchases in your stores – online and physical. When having an automatic transfer, the customer gains access to a wide range of special benefits. The more money a customer chooses to transfer, the more benefits will be available.
The goal is to increase the share of wallet and not increase customers privat food budget. So far our experience tells us it works. Have a look at the numbers and judge for yourself.
- Partnership with external businesses: movie streaming, e-books, music streaming, vouchers and coupons for events, gasoline and car wash and other.
- Increased purchase bonus on specific product groups and product metrics: ex. organic and local product, store brands and others product. Bonus can be used to purchase new grocerys within the same digital ecosystem.
- Free delivery on online grocery shopping – always and with no minimum spending limits
Prime Account customers increases share of wallet by over 25%
Prime customers have increased their basket of private label products by over 10%
The amount that an average Prime Account customer transfers each month is index 122 compared a regular Coop member.
For your customers
- Receive increased bonus on specific products and brands
- Gain access to attractive partner benefits
- Control over food budget
- Free credit for grocery shopping
- Increased overall loyalty by Prime Account customers
- Increased share of wallet by Prime Account customers
- Increased spending on specific product groups by Prime Account customers
- All product metrics for purchase bonus can be customized based on the input data your company is able to provide
- All partner benefits can be customized to fit local trends and needs
- Solution can be delivered with or without e-money service. If delivered without e-money service an alternative emoney service is required.
- E-money service can be delivered with or without bank license. If delivered without banklicens an alternative bank license is required.