Pier 1 Invests $5M in Web and Loyalty Initiatives
Pier 1 recently revealed how its $5 million dollar investment in its technology, stores, Web site and loyalty program are driving sales for the brand.
Total sales on the Pier 1 Rewards Card increased 9 percent over last year, while the penetration rate rose to 24 percent of sales, up from 22 percent a year ago.
"We will work in fiscal 2011 to develop dynamic marketing promotions aimed at growing our rewards card business," said Charles Turner, Executive Vice President, Chief Financial Officer, Pier 1. "Our penetration rate target for this coming fiscal year is 26.5 percent."
The company's Web site, Pier1.com, has recorded a 19 percent increase in site visits. "For many of our customers the Web site serves as our first sales associate," said Alexander Smith, President, Chief Executive Officer, Pier 1.
The retailer plans to invest additional capital dollars to improve Pier1.com, marketing efforts, physical store improvements to its stores as well as enhancements to the company's technology and infrastructure, adds Smith.
Total sales on the Pier 1 Rewards Card increased 9 percent over last year, while the penetration rate rose to 24 percent of sales, up from 22 percent a year ago.
"We will work in fiscal 2011 to develop dynamic marketing promotions aimed at growing our rewards card business," said Charles Turner, Executive Vice President, Chief Financial Officer, Pier 1. "Our penetration rate target for this coming fiscal year is 26.5 percent."
The company's Web site, Pier1.com, has recorded a 19 percent increase in site visits. "For many of our customers the Web site serves as our first sales associate," said Alexander Smith, President, Chief Executive Officer, Pier 1.
The retailer plans to invest additional capital dollars to improve Pier1.com, marketing efforts, physical store improvements to its stores as well as enhancements to the company's technology and infrastructure, adds Smith.