LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Loyalty Programs Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the marketing industry. This report breaks down the data and analysis behind the procurement of loyalty programs and acts as an all-inclusive guide for making smart purchasing decisions.
“Firms across different industries endeavor to differentiate from each other and create competitive advantages to prevent customers from switching to their competing brands,” said SpendEdge procurement analyst Angad Singh. “Loyalty programs are one such differentiating factors that the brands use to drive purchasing frequency and improve brand awareness,” added Angad.
Key Report Features
| Supply Market Insights | Negotiation Strategies | |||
| Procurement Best Practices | Category Risk Analysis | |||
| Cost Saving Opportunities | Key Supplier Analysis | |||
| Pricing Models |
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Supplier Capability Matrix | ||
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Report Insights
- The growth of the global loyalty programs market is attributed to the development of innovative loyalty programs such as coalition program and provision of relevant benefits.
- Purchasing managers must focus on aligning program benefits with target groups, as the preferences and demand for different benefits vary across the groups. They must also focus on building a relationship with target group customers by increasing customer loyalty, obtaining new customers, and create better communication opportunities.
- It is difficult for purchasing managers to measure the effectiveness of the program as there is no defined metrics to measure the success rate as it varies with the structure and level of program customization.
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Loyalty Programs Pricing Trends
The time-based pricing model is losing the grip on the global loyalty market despite some effective features such as the cost of service is entirely dependent on the complexity of a project. It also offers reliable timeframes and does not cause time-delay constraints. However, SpendEdge procurement analysts observe that value-based pricing is one of the most adopted pricing models in this market. It encourages suppliers to provide effective and efficient services as the performance is associated with incentives or penalties and help track conversions, resulting in better ROI.
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About SpendEdge
SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred procurement market intelligence partner for Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence that helps sourcing and procurement professionals make informed decisions. These innovative procurement solutions help enterprises transform structural capabilities, improve execution efficiency, and fast-track time to savings.
