Virgin Megastore V.I.P Program Grows
August 24, 2007 at 5:45 AM (PT)
In announcing Q1 results, VIRGIN MEGASTORES has announced that the brand’s V.I.P. Loyalty Program, launched nine months ago in seven store locations, have already signed up 150,000 members. The V.I.P. program offers members special privileges such as trips, backstage concert passes, celebrity meet-and-greets and deep discounts on selected store products, reports COLLOQUY.COM.
VIRGIN MEGASTORES in the U.S. have seen a 9% spike in comparable music sales in the first quarter, and a 15% increase in overall comp sales from this time last year. "A few years ago we saw a need in the retail market for customers to be able to shop at one location for the latest in DVDs, games, personal electronics, fashion and music," says VIRGIN ENTERTAINMENT GROUP INTERNATIONAL CEO SIMON WRIGHT. "We worked hard to implement the best products in these categories and have created a lifestyle entertainment shopping destination."
The first quarter brought a major benchmark for VIRGIN. The NEW YORK TIMES SQUARE VIRGIN MEGASTORE has achieved annual sales of $50 million dollars for the first time, making it the highest volume store of its kind in the world; this brings the company close to its sales target of $100 million total turnover for MANHATTAN.