Latin America Loyalty Market Size & Forecast by Spend Value Across 100+ KPIs by Program Type, Channel Mix, Sector, Embedded Loyalty Penetration, and Platform Spend Segmentation - Databook Q1 2026 Update

The loyalty market in Latin America is expected to grow by 15.9% annually, reaching US$5.3 billion by 2026.

The loyalty market in the region has experienced robust growth during 2021-2025, achieving a CAGR of 18.2%. This upward trajectory is expected to continue, with the market forecast to grow at a CAGR of 13.4% from 2026 to 2030. By the end of 2030, the loyalty market is projected to expand from its 2025 value of US$4.5 billion to approximately US$8.7 billion.

Key Trends and Drivers

Loyalty is shifting from standalone programs to embedded ecosystem infrastructure

• Across Latin America, loyalty is increasingly built into retail, payments, and digital-service ecosystems rather than as a separate points program. In Mexico, FEMSA integrates Spin Premia directly into Spin by OXXO, allowing rewards to accrue through wallet usage, bill payments, and in-store OXXO transactions. In Brazil, Mercado Livre positions MELI+ as part of its commerce stack, bundling loyalty with shipping benefits, payments, and marketplace usage rather than treating it as a promotional overlay.
• Retailers and platforms are prioritising frequency and habit formation in markets where customer acquisition costs remain structurally high. The expansion of wallets, marketplaces, and super-app-like ecosystems creates natural anchor points for loyalty to be embedded into daily transactions rather than episodic engagement.
• Loyalty will increasingly function as infrastructure, not a campaign tool. Smaller standalone programs are likely to lose relevance unless they integrate with dominant ecosystems or payment rails.

Programs are prioritising immediate, utility-led rewards over aspirational redemptions

• Loyalty propositions are moving toward immediate, high-frequency utility such as cashback, instant discounts, and checkout redemption rather than long-cycle aspirational rewards. In Chile, major grocery and pharmacy operators have expanded instant discount-linked loyalty mechanics tied to membership identification at checkout. In Brazil, fuel and convenience retailers are reinforcing direct price benefits for registered customers rather than offering deferred rewards.
• Persistent inflation sensitivity across Latin American consumer markets has shifted expectations toward visible and immediate value. Retailers are also managing loyalty liabilities more actively by encouraging faster redemption and reducing long-dated point balances.
• Programs that cannot demonstrate short-cycle value are likely to see lower engagement. Redemption mechanics will increasingly resemble price instruments, blurring the line between loyalty and everyday pricing strategy.

Payments and financial services are becoming primary loyalty distribution channels

• Loyalty is being distributed through payment instruments, including wallets, co-branded cards, and QR-based payment flows. In Argentina, large banks continued to position card-linked rewards and merchant-funded offers as a core retention lever amid constrained credit conditions. In Mexico, wallet-based loyalty tied to cash-in/cash-out and bill-pay flows has gained prominence, reducing dependence on traditional retail earn mechanics.
• Payments touchpoints provide high-frequency engagement and rich transaction visibility. Financial institutions and wallets are using loyalty to defend primary account relationships in increasingly competitive digital payments markets.
• Loyalty ownership will increasingly sit with payment and wallet operators, not only retailers. Retailers may need to co-fund or integrate loyalty mechanics rather than fully control them.

Coalition and partnership-led loyalty models are replacing single-merchant scale plays

• To achieve scale efficiently, operators are forming coalition-style loyalty ecosystems spanning retail, travel, and financial services. In Colombia, airline-anchored programs expanded partner networks across commerce and services to maintain relevance beyond travel. In Brazil, multi-partner earn-and-burn structures are increasingly used to extend reach without proportional marketing spend.
• Fragmented retail landscapes make it difficult for individual merchants to sustain engagement on their own. Partnerships allow programs to increase earn velocity and redemption options without heavy balance-sheet exposure.
• Coalition models will become more selective, favouring partners that contribute transaction volume rather than brand visibility. Weakly integrated partnerships are likely to be rationalised.

Competitive Landscape

• Expect consolidation around ecosystem “control points” (marketplaces, wallets, delivery apps, airline platforms) that can fund benefits and push adoption across multiple daily-use moments.
• Loyalty tech becomes a competitive weapon: more platforms will buy/partner for offer engines, merchant-funded rewards, and identity resolution to measure ROI and manage liabilities.
• Partnership-led competition increases: winning will depend less on points mechanics and more on who can assemble the most defensible bundle of benefits across categories.

Current State of the Market

• Competition is intensifying because loyalty is becoming an operating layer inside large ecosystems (commerce, delivery, mobility, payments), not a standalone program.
• Brazil is a high-intensity arena: scaled platforms are using membership/benefits to lock in frequency across categories, while new platform entrants raise the “benefits baseline” users expect (e.g., delivery and mobility convergence).
• Mexico is trending toward wallet-anchored loyalty, where rewards are bundled into everyday payment and cash-in/cash-out journeys rather than retailer-only earn/burn.

Key Players and New Entrants

• Scaled ecosystem owners are the pace-setters.
• Mercado Libre (regional): membership/benefits integrated into its broader commerce and fintech stack (MELI+).
• iFood (Brazil): benefits-led approach via Clube iFood as part of a wider ecosystem strategy.
• FEMSA / Spin by OXXO (Mexico): Spin Premia positioned as a rewards layer tied to wallet usage and OXXO commerce flows.
• New entrants are often adjacency players (global platforms expanding into Latam categories), rather than “pure-play loyalty” startups, raising pressure on incumbents to bundle more benefits.

Recent Launches, Mergers, and Acquisitions

• M&A/capability buy: Prosus-owned iFood acquired a stake in CRMBonus (loyalty/customer engagement tech), signalling that platforms are buying loyalty tooling to deepen partner-funded incentives and data-driven targeting.
• Cross-ecosystem partnerships: Uber and iFood partnered in Brazil to connect consumer journeys across mobility and delivery surfaces, creating more room for shared benefits and integrated loyalty experiences.
• Payments-led partnership renewal: Spin by OXXO and Visa extended their strategic alliance in Mexico, reinforcing loyalty distribution through payment rails and wallet ecosystems.
• Travel loyalty partnerships: LATAM Brasil and Revo launched a loyalty-customer benefit partnership, showing continued expansion of loyalty value beyond core flights.

This report provides a detailed data-centric analysis of the loyalty industry in Latin America, offering comprehensive coverage of both overall and alternative lending markets. It covers more than 100+ KPIs, including spend value on loyalty schemes, loyalty breakage rate, and penetration rate.

The report provides in-depth segmentation across the loyalty ecosystem, capturing loyalty spend value and breaking it down by core market dimensions. It classifies loyalty activity by program models (such as points, cashback, tiered, subscription, coalition, and gamified formats), membership structures, and execution channels (in-store, online, and mobile app), alongside embedded loyalty use cases integrated into payments, commerce, and platform ecosystems. The analysis further segments the market by industry verticals and assesses technology enablement, including AI-driven personalisation and emerging blockchain-led program mechanics. In addition, the dataset captures consumer demographics, enrolment pathways, and key program economics such as value accumulation, redemption, and breakage. Collectively, these datasets provide a comprehensive and quantifiable view of market size, structure, engagement behaviour, and value realisation dynamics within the loyalty market.

The research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to deliver a detailed view of market performance, structural trends, and growth dynamics across the loyalty ecosystem, covering loyalty spend value, consumer engagement patterns, and channel execution.

This title is a bundled offering, combining the following 5 reports, covering 350+ tables and 500+ figures:

• Latin America Loyalty Market Business and Investment Opportunities Databook
• Argentina Loyalty Market Business and Investment Opportunities Databook
• Brazil Loyalty Market Business and Investment Opportunities Databook
• Colombia Loyalty Market Business and Investment Opportunities Databook
• Mexico Loyalty Market Business and Investment Opportunities Databook

Report Scope

This report provides a detailed data-centric analysis of the loyalty industry, with comprehensive coverage across retail-sector context, loyalty spend dynamics, and loyalty platform economics. Below is a summary of key market segments:

Retail Sector Market Context

• Retail Industry Market Size, 2021-2030
• Ecommerce Market Size, 2021-2030
• POS Market Size Trend Analysis, 2021-2030

Loyalty Spend Market Size and Growth Dynamics

• Loyalty Spend Market Size and Future Growth Dynamics, 2021-2030
• Loyalty Spend on Schemes by Value Accumulated and Value Redemption Rate, 2025
• Loyalty Spend Share by Functional Domains, 2021-2030
• Loyalty Spend by Loyalty Schemes, 2021-2030
• Loyalty Spend by Loyalty Platforms, 2021-2030

Loyalty Schemes Spend Segmentation by Loyalty Program Type

• Point-based Loyalty Program
• Tiered Loyalty Program
• Mission-driven Loyalty Program
• Spend-based Loyalty Program
• Gaming Loyalty Program
• Free Perks Loyalty Program
• Subscription Loyalty Program
• Community Loyalty Program
• Refer a Friend Loyalty Program
• Paid Loyalty Program
• Cashback Loyalty Program

Loyalty Schemes Spend Segmentation by Channel

• In-Store
• Online
• Mobile

Loyalty Schemes Spend Segmentation by Business Model

• Seller Driven
• Payment Instrument Driven
• Other Segment

Loyalty Schemes Spend Segmentation by Key Sectors

• Retail
• Financial Services
• Healthcare & Wellness
• Restaurants & Food Delivery
• Travel & Hospitality (Cabs, Hotels, Airlines)
• Telecoms
• Media & Entertainment
• Other

Sector × Channel Views: Loyalty Schemes Spend by Key Sectors and Channels

• Online Loyalty Spend by Sector, 2021-2030
• In-store Loyalty Spend by Sector, 2021-2030
• Mobile App Loyalty Spend by Sector, 2021-2030

Retail Sector Deep-Dive: Loyalty Schemes Spend by Retail Segment

• Diversified Retailers
• Department Stores
• Specialty Stores
• Supermarket and Convenience Store
• Other

Loyalty Schemes Spend Segmentation by Accessibility

• Card Based Access
• Digital Access

Loyalty Schemes Spend Segmentation by Consumer Type

• B2B Consumers
• B2C Consumers

Loyalty Schemes Spend Segmentation by Membership Type

• Free
• Free + Premium
• Premium

Loyalty Spend Split by Embedded vs. Non-Embedded Loyalty

• Embedded Loyalty Programs
• Non-Embedded Loyalty Programs

Loyalty Spend Split by Use of AI / Blockchain

• AI Driven Loyalty Program
• Blockchain Driven Loyalty Program

Loyalty Platform Spend Segmentation by Software Use Case

• Analytics and AI Driven
• Management Platform

Loyalty Platform Spend Segmentation by Vendor / Solution Partner

• In-house
• Third-Party Vendor

Loyalty Platform Spend Segmentation by Deployment

• Cloud
• On-Premise

Loyalty Platform Spend Segmentation by Offering

• Software
• Services
• Custom Built Platform vs. Off the Shelf Platform

Consumer Demographics & Behaviour (Loyalty Spend Share), 2025

• Age Group
• Income Level
• Gender

Loyalty Program KPIs, Behavioral Metrics & Embedded, 2025

• Primary Loyalty Motivation Split Analysis
• Loyalty Program Breakage Rate Analysis
• Loyalty Program Enrollment Channel Mix Analysis
• Embedded Loyalty Penetration by Channel

Reasons to Buy

• Comprehensive Market Intelligence: Gain a comprehensive view of the loyalty market by quantifying total loyalty spend value and its composition across loyalty schemes and loyalty platforms, supported by retail context indicators to benchmark market scale, structure, and growth dynamics.
• Granular Loyalty Spend Coverage: Analyze loyalty spend value across loyalty schemes and loyalty platforms, supported by structured segmentation across program types (e.g., point-based, tiered, cashback, subscription, community, gaming, mission-driven, paid, and referral-led formats).
• Channel and Sector-Level Execution Insights: Evaluate how loyalty spend is distributed across in-store, online, and mobile channels, and across key verticals including Retail, Financial Services, Healthcare & Wellness, Restaurants & Food Delivery, Travel & Hospitality, Telecoms, and Media & Entertainment, with dedicated sector × channel views.
• Program Structure and Participation Mix: Understand how loyalty schemes differ by business model (seller-driven vs. payment-instrument-driven), accessibility (card-based vs. digital), consumer type (B2B vs. B2C), and membership type (free, premium, and free+premium), enabling more precise program design and competitive benchmarking.
• Embedded Loyalty and Emerging Mechanisms Tracking: Assess the evolution of embedded vs. non-embedded loyalty and track spend splits linked to program enablement, including AI-driven and blockchain-driven loyalty program spend where captured in the dataset.
• Platform Spend and Vendor/Deployment Benchmarking: Benchmark loyalty platform economics by software use case (analytics/AI-driven vs. management platforms), solution partner model (in-house vs. third-party), deployment (cloud vs. on-premise), and offering mix (software vs. services; custom-built vs. off-the-shelf).
• Consumer Demographics and Program KPI Lens: Access loyalty spend share by age, income, and gender, alongside decision-critical program KPIs such as loyalty penetration (% of retail sales under loyalty), primary motivation split, breakage rate, enrollment channel mix, and embedded loyalty penetration by channel.
• Decision-Ready Databook Format with 100+ KPIs: Leverage a structured dataset with historical and forecast coverage through 2030, designed for direct integration into market models, strategic planning, and executive presentations by retailers, platforms, payment providers, technology vendors, and investors.