Quick Summary:
In the highly competitive corporate landscape, understanding the rapidly evolving global loyalty market is fundamental for senior executives looking to enhance customer engagement and drive brand loyalty. Deftly navigating this rapidly expanding market requires comprehensive, up-to-date market intelligence.
This market research report presents an intricate evaluation of the global loyalty market, whilst highlighting growth trends and uncovering untapped opportunities across various industries. The report's prime focus remains on market trends such as the increasing adoption of loyalty and rewards programs. Particularly noteworthy is the emerging trend of Non-Fungible Tokens (NFTs) being weaved into such programs to bolster customer engagement and retention.
The report provides an in-depth data-centric analysis, offering a comprehensive understanding of loyalty market dynamics, market size, forecast, and market share statistics. With a robust analysis of more than 50 key performance indicators at the country level, this report gives detailed global insights and market dynamics at both global and country levels.
Backed by industry best practices and a proprietary analytics platform, this report offers an unbiased evaluation of emerging market opportunities. Utilize this research to accelerate decision-making, catalyze growth, and gain a competitive edge in this expanding market. Allow this research to be your compass in the complex landscape of the global loyalty market.
In value terms, the global loyalty market has recorded a CAGR of 13.1% during 2018-2022.The global loyalty market will continue to grow over the forecast period and is expected to record a CAGR of 12.2% during 2023-2027. Global loyalty market will increase from US$120,596.0 million in 2022 to reach US$215,497.1 million by 2027.
The global loyalty program industry is expected to record strong growth in 2023. Drive by inflation, bargain-hunting customers are projected to drive the adoption of loyalty and reward programs across business verticals. Furthermore, the market growth will also be driven by the adoption of loyalty programs across different industries. Restaurant brands are turning to subscription models in the next big loyalty trend in 2023.
Over the next 12 months, the adoption of loyalty and reward programs is expected to continue to increase in the hospitality and travel sector in the global market. This, coupled with growing innovation, will keep aiding the industry's growth in 2023. Many brands and retailers are seeking to integrate NFT and loyalty programs to drive customer engagement and retention. The trend is projected to accelerate worldwide from the short to medium-term perspective.
Firms are forging strategic partnerships to launch NFT-powered loyalty programs in 2023
In 2022, Starbucks and a host of other brands launched NFT-powered loyalty programs to drive customer engagement, retention, and sales. This trend is projected to further grow over the next 12 months, as firms are looking at NFTs as a way to drive the adoption of loyalty programs and boost customer loyalty, by offering more value through digital assets.- To capitalize on the trend, Salesforce entered into a strategic collaboration with Polygon to develop NFT-powered loyalty programs on the Polygon Blockchain. The collaboration, announced in March 2023, will enable firms to mint, manage, and sell NFTs. Over the last few months, Polygon has partnered with various brands, including Lotte Group and Starbucks, to offer Web3-related services.
- In January 2023, Polygon also partnered with Cha Cha Matcha to develop and launch a loyalty program on the Polygon Blockchain. The program will enable customers to access rewards and experiences that are not accessible through conventional loyalty programs. The partnership with Cha Cha Matcha is similar to that with Starbucks and other brands.
Retailers are expanding their loyalty program offerings amid growing competition in the segment
Paid loyalty members have been found to spend more with brands that they are subscribed to. Amazon Prime members are estimated to spend significantly more compared to non-Prime members each month. Similar trends have been observed in other loyalty programs. With this trend and consumer behaviour, an increasing number of small and mid-sized retailers are launching paid-membership programs in the United States.- In February 2023, Barnes & Noble announced the launch of two new membership levels, one paid and one free. The US$40 paid loyalty program membership launched by the retailer provides members with in-store and online discounts, free shipping, and drink upgrades. The free reward program launched by the retailer will allow shoppers to earn rewards, which can be redeemed on future purchases.
From the short to medium-term perspective, the publisher expects more and more retailers across industry verticals to launch paid membership loyalty programs, which will also boost their revenue and bottom-line growth.
This report provides a detailed data-centric analysis of the loyalty market opportunities and risks across a range of industry categories. With over 50 KPIs at the country level, this report provides a comprehensive understanding of loyalty market dynamics, market size and forecast, and market share statistics.
The research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view on emerging business and investment market opportunities.
This title is a bundled offering provides detailed 21 reports, covering global insights along with data centric analysis at global and country level:
1. Global Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)2. Global Loyalty Programs Market Intelligence Insight Brief
3. Argentina Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
4. Australia Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
5. Brazil Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
6. Canada Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
7. China Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
8. France Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
9. Germany Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
10. India Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
11. Indonesia Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
12. Italy Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
13. Mexico Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
14. Nigeria Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
15. Philippines Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
16. Russia Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
17. South Africa Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
18. Thailand Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
19. United Arab Emirates Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
20. United Kingdom Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
21. United States Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
Scope
Country reports in this bundled offering provide in-depth analysis of loyalty programs. Below is a summary of key market segments:
- Retail Sector Spend Value Trend Analysis
- Ecommerce Spend
- POS Spend
Loyalty Spend Market Size and Future Growth Dynamics by Key Performance Indicators, 2018-2027
Value Accumulated and Value Redemption Rate of Loyalty programs in
Loyalty Spend Market Size and Future Growth Dynamics by Functional Domains, 2018-2027
- Loyalty Schemes
- Loyalty Platforms
Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Program Type, 2018-2027
- Points programs
- Tier-based programs
- Mission-driven programs
- Spend-based programs
- Gaming programs
- Free perks programs
- Subscription programs
- Community programs
- Refer a friend program
- Paid programs
- Cashback programs
Loyalty Spend Market Size and Future Growth Dynamics by Channel, 2018-2027
- In-Store
- Online
- Mobile
Loyalty Schemes Spend Market Size and Future Growth Dynamics by Business Model
- Seller Driven
- Payment Instrument
- Others
Loyalty Spend Market Size and Future Growth Dynamics by Key Sectors, 2018-2027
- Retail
- Financial Services
- Healthcare & Wellness
- Restaurants & Food Delivery
- Travel & Hospitality (Cabs, Hotels, Airlines)
- Telecoms
- Media & Entertainment
- Others
Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by online, 2018-2027
- Retail
- Financial Services
- Healthcare & Wellness
- Restaurants & Food Delivery
- Travel & Hospitality (Cabs, Hotels, Airlines)
- Telecoms
- Media & Entertainment
- Others
Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by In-Store, 2018-2027
- Retail
- Financial Services
- Healthcare & Wellness
- Restaurants & Food Delivery
- Travel & Hospitality (Cabs, Hotels, Airlines)
- Telecoms
- Media & Entertainment
- Others
Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by Mobile App, 2018-2027
- Retail
- Financial Services
- Healthcare & Wellness
- Restaurants & Food Delivery
- Travel & Hospitality (Cabs, Hotels, Airlines)
- Telecoms
- Media & Entertainment
- Others
Loyalty Spend Market Size and Future Growth Dynamics by Retail, 2018-2027
- Diversified Retailers
- Department Stores
- Specialty Stores
- Clothing, Footwear & Accessories
- Toy & Hobby Shops
- Supermarket and Convenience Store
- Home Merchandise
- Other
Loyalty Spend Market Size and Future Growth Dynamics by Accessibility, 2018-2027
- Card Based Access
- Digital Access
Loyalty Spend Market Size and Future Growth Dynamics by Consumer Type, 2018-2027
- B2C Consumers
- B2B Consumers
Loyalty Schemes Spend Market Size and Future Growth Dynamics by Membership Type
- Free
- Free + Premium
- Premium
- Loyalty Platform Spend Market Size and Future Growth Dynamics by Software
- Analytics and AI Driven
- Normal CRM
- Loyalty Platform Spend Market Size and Future Growth Dynamics by Vendor/Solution Partner
- In House
- Third Party Vendor
- Loyalty Platform Spend Market Size and Future Growth Dynamics by Deployment
- Cloud
- On-Premise
Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Platforms, 2018-2027
- Software
- Services
Loyalty Spend Market Size and Future Growth Dynamics by Software Platforms, 2018-2027
- Custom Built Platform
- Off the Shelf Platform
- Loyalty Spend Market Size and Forecast by Consumer Demographics & Behaviour, 2022
- By Age Group
- By Income Level
- By Gender
Reasons to buy
- Gain insights into the loyalty spend market: The report provides a comprehensive overview of the loyalty spend market, including market size, growth drivers, and trends. This information can help businesses to make informed decisions about their loyalty program strategies.
- Benchmark your business against competitors: The report provides a competitive analysis of the loyalty spend market, which can help businesses to identify their strengths and weaknesses relative to their competitors. This information can help businesses to improve their loyalty program strategies and gain a competitive advantage.
- Stay up-to-date on the latest trends in the loyalty spend market: The report provides an overview of the latest trends in the loyalty spend market, such as the growing popularity of mobile-based loyalty programs and the increasing awareness of the benefits of loyalty programs among consumers. This information can help businesses to stay ahead of the competition and improve their loyalty program strategies.
- Make informed decisions about your loyalty program: The report provides a comprehensive overview of the factors to consider when developing a loyalty program, such as the target audience, the rewards and benefits, and the marketing and communication strategy. This information can help businesses to develop a loyalty program that is effective and successful.
What is the estimated value of the Global Loyalty Programs Market?
What is the growth rate of the Global Loyalty Programs Market?
What is the forecasted size of the Global Loyalty Programs Market?
Report Attribute | Details |
---|---|
No. of Pages | 2457 |
Published | April 2023 |
Forecast Period | 2023 - 2027 |
Estimated Market Value ( USD | $ 135.9 Billion |
Forecasted Market Value ( USD | $ 215.5 Billion |
Compound Annual Growth Rate | 12.2% |
Regions Covered | Global |