The definition of luxury differs worldwide, but in the online landscape, luxurious activities are often the ones we get to conduct wherever, whenever, such as in the comfort of our homes or on the train or bus going to work. Two industries best known for offering this flexibility are eCommerce and online gambling, but that’s not where the similarities stop. In this article, we will explore the similar business models that eCommerce platforms and online casinos have adopted over the years.
Bonuses and Promotions
Letting shoppers purchase products on their phones and computers isn’t the only reason retail eCommerce sales are forecasted to hit around $7.4 trillion by 2025. It’s also because eCommerce platforms know how to generate buzz and engage consumers through deals like buy one get one free, product giveaways, and seasonal promotions. Likewise, online casinos are renowned for offering bonuses to new and existing players. For example, some casino offers for new customers include deposit bonuses, free spins, and cash bonuses, which boost a player’s bankroll with a money gift. There are also package bonuses, which may be the most luxurious offer listed since it combines multiple casino promotions into one. Both eCommerce platforms and online casinos also offer loyalty programs to reward long-time customers and players.
Customer Interests Come First
When social media platforms like TikTok started influencing fashion, such as bringing Y2K fashion trends back, retailers like Urban Outfitters listened. There are so many Y2K-inspired clothes available on the online market, far more than before 2020, which is when the Y2K trend came back to life. Retailers listen to what consumers want because it helps them dictate what products to put on the floor or make available on their online marketplace. In the same way, this is why online casinos have started to offer more hybrid casino games like Slingo. Slingo is a combination of slots and bingo, and its popularity, especially in the United Kingdom, has skyrocketed. Recognizing this demand, online casinos rolled out dozens of Slingo game variations, including a Slingo version of Rainbow Riches, one of the most popular online casino games. Generating brand loyalty is crucial in any business, and in addition to offering promotions, making customers feel seen and heard is one of the best ways to achieve it.
Retail eCommerce platforms and online casinos also understand the importance of offering customers different options, and not just in terms of product and game selection. These businesses also offer multiple payment methods, which helps them appeal to a wider range of demographics. In other words, people who prefer to use online payment systems like PayPal don’t have to feel excluded from retailers and online casinos that only accept traditional payment methods like Visa and Mastercard. Offering various payment options is another way to generate brand loyalty because it shows businesses are up-to-date with changing trends and understand that no two customers are the same.
Luxury or not, retail eCommerce platforms use similar business models as online casinos to engage customers, generate buzz, and increase sales and brand loyalty. One way of doing this is through offering incentives like bonuses and loyalty programs. However, it also comes down to listening to target audiences and seeing where their interests and needs lie.