Next Challenge: Gen Z: What does your ideal bank look like?
How can our consumer electronics retailer offer the perfect credit card?
business consumer insights benefits credit card loyalty rewards
$1,600
top 50%
122
submissions
DONE
5 months ago
Small pic creditcard

NOTE: This challenge is for solvers in the United States. Solvers outside the United States will not be eligible for rewards.

Our company, an industry-leading consumer electronics retailer, strives to identify customer needs and create the right solution for them. One area we've identified that needs attention is our store credit card, which allows those with the card to choose rewards points for purchases or flexible financing options plus other benefits  such as free shipping, returns, special offers, and customer service.

Our current program, the details of which can be seen in the PDF attached below, has seen a decrease in signups in recent years. We want your help identifying the innovative benefits that will drive more interest in our card and make it your go-to payment method for consumer electronics as well as purchases outside the retailer when applicable.

Helpful hint: In the past, we've seen lots of benefits that are focused on getting rewards points, discounts, lower APRs, and lower interest rates. While all of that (except the interest rates) are still options you can discuss, we're most interested in seeing how you can help us drive loyalty without financial-based incentives being the only benefit. If you can avoid suggesting cash back or airline miles as benefits, you’ll earn higher scores with this retailer!

Deliverables

Help us create the perfect credit card to offer customers at our consumer electronics retailer. Specifically, answer the following in detail:

  1. What features, services, benefits, or rewards should we include in our store credit card program? For each one you list, explain how it will drive loyalty to us as a retailer.
  2. What credit cards or loyalty programs have you seen that have persuasive and interesting non-financial benefits, rewards, and features? What are those benefits, and why are they effective?
  3. What features, services, or partnerships could make this store credit card valuable to you for purchases made outside of our stores, website, and app OR anywhere credit cards are accepted? Think not only about the what we could offer as a retailer, but also what we can do outside of our stores, website, and app to create a great cardholder experience.

NOTE: If you attach your submission as a PDF, PPT, Word Doc, or other file type, you must still paste your answer text into the body of the submission window. Failure to do so will result in a lower score.

Answers must be submitted in English.

    Submissions will be graded on the following criteria:
  • Meets Deliverables
  • Creativity
  • Clarity
Additional Materials:
Leaderboard
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$76.90 A Carnegie Mellon University
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$76.90 M California Polytechnic State University - San Luis Obispo
$76.90 J University of Central Florida
$76.90 Picture?width=160 University of Central Florida
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$76.90 N
$76.90 Picture?width=160 University of California, Santa Cruz
$76.90 Square pic 60 6be95546d3ad8609795545599b1648ad West Virginia University
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$22.20 Square pic 60 screen shot 2019 04 05 at 15.16.20 Unity College
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$6.70 Square pic 60 aaeaaqaaaaaaaak7aaaajgq1ngrknzzlltrhntutndmzmy05yti5ltjinjy4zgvkymiynq University of Central Florida
$6.70 Square pic 60 531 Penn Foster
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$6.70 V University of Central Florida
Submission questions

What is your age?

(Required)

In the past year, how many times have you purchased consumer electronics?

(Required)

Which consumer electronics retailers have you shopped at in the past year?

(Required)
Amazon
Apple Stores
Best Buy
Costco
Dell
GameStop
Micro Center
Newegg
Target
Walmart
Other

If you selected "Other" in the previous question, please list the retailer(s) here.

Do you have a credit card through a consumer electronics retailer?

(Required)

If you stated that you have a credit card with a consumer electronics retailer, please list them here.

Where do you live? Include city, state, and country.

(Required)
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