The global loyalty management market is anticipated to grow at a CAGR of 15.6% during the forecast period (2021-2027). The rising inclination of customers towards the loyalty programs is expected to drive the global loyalty management market. With increasing digitalization, there has been an increasing engagement of the consumers to the brands via digital touchpoints. These digital interactions are experienced by the customers via smartphones, websites, and social media; which are vital for the growth and profitability of the business. Therefore, key player of these market are upgrading their loyalty programs by adopting different approaches.
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For instance, June 2021, Evolving Systems, Inc. announced that the Cellcard Cambodia is upgrading to the new Evolution platform to enhance its loyalty program, Cellcard Club, to drive more personalized and relevant offers to subscribers through various digital media (including social media channels) in real-time. In the same month, PayU, India’s online payments solutions provider has launched ‘Pay with Rewards’ initiative, India’s largest online aggregation of loyalty programs across brands, in partnership with Twid, India’s first reward points-based payment network. Through this consumers can pay for up to 100% of their purchases through rewards and loyalty points by simply collecting loyalty points and alternate currencies of multiple brands on a single platform.
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Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered-
o By Type
o By End-User Industry
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Apex Loyalty, Clutch Holdings LLC, Fivestars Loyalty, Inc., Gold-Vision CRM, Goody Inc., iVend Retail, Kangaroo Rewards, and so on
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Loyalty Management Market Report Segment
By Type
- Customer Loyalty
- Employee Loyalty
- Channel Loyalty
By End-User Industry
- BFSI
- Retail
- Travel & Hospitality
- Others
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