Stran & Company, Inc. (“Stran” or the “Company”) (NASDAQ: SWAG) (NASDAQ: SWAGW), a leading outsourced marketing solutions provider that leverages its promotional products and loyalty incentive expertise, today announced that it has launched a new loyalty program for a client that has received more than 22,000 orders in the first week of the redemption period, generating more than $2 million in sales.
Stran’s client, an online sports and entertainment company, invests in both customer acquisition and retention initiatives that Stran supports through a combination of physical and experiential rewards designed to drive behavior. The loyalty program rewards are offered to the client’s consumers in the form of products that can be redeemed online. The program is an example of one of several such programs based on Stran’s e-commerce loyalty program platform, which supports all aspects of client and consumer engagement from product ideation, production, technology, logistics, inventory management, fulfillment, and reporting to ensure a seamless experience for both the client and their consumers.
The maximum number of orders from this program will be approximately 45,000, for total maximum sales of approximately $4 million.
“We are thrilled to see the volume of redemptions that took place in the initial week of our engagement, as it speaks to the effectiveness of both the overarching loyalty strategy as well as the specific offering to the client’s consumer base,” stated Andy Shape, CEO of Stran. “Our creative, merchandising, sourcing, production, and logistics capabilities are helping our client to retain their customers. This is an example of one of several loyalty and incentive-based initiatives that we offer to assist our clients with the goal of driving customer retention. Moreover, given the results so far from this program, we look forward to rolling out similar programs with this client in the future as we continue to expand our relationship.”
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