Australia’s credit card market has grown increasingly saturated with the growing presence of non-traditional issuers vying for a slice of the lucrative market. Innovative product offerings and a diversified range of reward programs have resulted in a plethora of choice for consumers, and in such a competitive environment it has become necessary to focus on establishing customer engagement and improving loyalty.
This paper begins with an overview of the competitive nature of the Australian card loyalty market and then explores the challenges for players in this space. It then describes two best practice examples in overseas markets and discusses how the Australian market may benefit from the lessons learnt abroad.
