as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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explain why loyalty programs have become so important to retailers.
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loyalty programs have become increasingly important to retailers as a way to build strong relationships with customers and drive sales. by offering rewards such as discounts, members-only offers, and tailored recommendations, loyalty programs incentivize customers to remain loyal to the retailer and to purchase more of its products. furthermore, loyalty programs provide retailers with valuable customer data and insights, allowing them to improve the customer experience and better target their advertising.
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