LONDON--(BUSINESS WIRE)--SpendEdge has been monitoring the global loyalty programs market and the market is poised to experience spend growth of more than USD 200 billion between 2019-2024 at a CAGR of more than 13% during the forecast period. Request Free Sample Pages.
Read the 128-page research report with TOC and LOE on "The Global Loyalty Programs Market – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, top suppliers, supplier selection and negotiation strategies, and insights into best practices to optimize procurement spend.”
The proliferation of the cardholding demography and their usage of mobile phones are allowing buyers from different end-user industries to connect with them through text messages and personalized e-mails to turn them into their potential customers. While executing this strategy, buyers from different industries are collaborating with each other to provide loyalty programs to their customers. For example, players from the banking and e-commerce industry are collaborating to offer discounts and cashback to their customers, which helps them gain customer loyalty. This is boosting demand growth in the global loyalty programs market.
In APAC, buyers from the retail sector are focusing on digital loyalty program features by providing store-specific mobile loyalty apps and integration with digital payment systems. Meanwhile, in Europe, monetary rewards such as product discounts, rebates or cashback, and promotional products are the most sought-after loyalty programs among consumers.
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The Top Loyalty Programs Suppliers Enlisted in this Report:
Suppliers are tackling a sharp increase in their expenditure on R&D activities to conduct research activities for the development of different loyalty strategies. This is inflating their OPEX which will also have an inflationary impact on buyers’ procurement spend in the loyalty programs market. Considering its probability, this report has listed the top loyalty programs suppliers, SLA agreement insights, and the selection and negotiation strategies that buyers must undertake to achieve optimal and cost-effective procurement in this market. Insights into some of the suppliers are given below:
Aimia- It is one of the dominant suppliers in the loyalty programs market in North America and other key regions. Such suppliers with a global footprint are known to employ technologies such as big data analytics and AI. These technologies help them in designing loyalty programs that are unique to buyers' requirements and enable buyers to target their customers accordingly.
Maritz Holdings- Requirements of buyers for loyalty programs and the profitability of the programs differ in each industry. On this note, buyers are advised to evaluate the alignment of the programs to their business goals prior to finalizing a contract with this supplier.
Edenred- Buyers must clearly define clauses pertaining to the ownership of subcontracting services that are not a part of their preferred partners’ portfolios. This ensures consistency in the programs developed and control of sensitive data that is shared with subcontracted firms.
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Some of the key topics covered in this report are:
- Loyalty programs market spend segmentation by region
- Loyalty programs supply market analysis
- Regional spend opportunity for loyalty programs suppliers
- Loyalty programs suppliers cost structure
- Total cost of ownership analysis in the loyalty programs market
- Loyalty programs pricing models analysis
- Category management objectives
- Cost saving opportunities in the loyalty programs market
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