Why does Yintai 365 cash back so much?

Why is Yintai 365 cashback a marketing tool to attract customers through cashback?

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"One yuan a day, then 10% discount" and "Download Miaojie APP to buy a membership card"-in order to promote the new paid membership card business, such slogans can be seen everywhere in Yintai Department Store recently. Since Yintai launched the 365 membership card before Hangzhou Wulin Store, Yiwu Store and Wenzhou Store in August this year, Yintai's 30 stores in Zhejiang, Anhui, Beijing and APP Miaojie can provide this service.

Yintai is the first department store in China to promote paid membership cards. Chen Xiaodong, CEO of Yintai Commercial Company, called this new card "365 card". He made this decision after discussing with some senior executives of Yintai in June this year. "The paid 365 card is to offer discounts to sticky customers. In the case of serious homogenization of goods, attract customers from physical stores with more favorable prices. "

Previously, Yin Xue, CTO of Yintai Business, said, "The digitalization of core business has brought great changes to Yintai. For example, the membership system used to be only member marketing, and now the core business is designed for members. " The core business of shopping malls is "selling goods". In the new retail era, "365 Card" is a service designed for members of Yintai Commercial based on the core business of "selling goods", so that members can realize "Yintai has discounts every day".

Another person in charge of Yintai business said that the launch of this service is a double-edged sword for Yintai. On the one hand, Yintai hopes to give back to Yintai's loyal members at a more favorable price and increase their stickiness; On the other hand, Yintai also hopes that through the "365-card" membership service charging system, the mall will try to focus more on how to provide customers with better products, shopping environment and services, and optimize the supply chain and customer experience with the help of new retail.