Product Overview

Management of loyalty deals with the creation of benefits for the past buying and provides incentives for future buying. The Rewards program provides the customer with strong value, with better customer penetration, cross-sales, and loyalty. A loyalty system comprises operational parameters that include; financing options, program design, and transaction types. It also incorporates different parameters of value such as redemption thresholds, reimbursement options, and earnings rates. Many organizations concentrate their activities on spending on loyalty programs. This allows the promotion of brands and continues to attract a new audience. It helps collect more information and insights to develop a more sophisticated customer profile. For the reason of its influence on the brand value and their capability of loyalty management programs to sustain and attract potential customers, loyalty management is a key part of the seller strategy.

Market Highlights

Fatpos Global anticipates the Loyalty Management market to surpass USD XX Billion by 2030, which is valued at XX billion in 2019 at a compound annual growth rate of XX%. Increasing the use of mobile technologies, increasing focus on managing customer relationships, increased use of digital cards is driving the loyalty market. The spread of mobile technology requires a real-time loyalty program, accessible by mobile devices and not by customers. Based on consumer preferences, the loyalty program software lets businesses get consumer input from the various services, and eventually, it contributes to a better solution/service for consumers. Consumer feedback provides enhanced customer experience management.

Source: Fatpos Global

Global Loyalty Management Market: Segments

Global Loyalty Management Market has been segmented on the basis of application type and by deployment mode. It has been further segmented on the basis of region into North America, Europe, Asia-Pacific, Mid East and Africa.

By Application (in %), Global Loyalty Management Market, 2019

In 2019, the mobile segment dominated the global Loyalty Management market.

The global Loyalty Management Market is segmented by application type into Web and Mobile. The fast penetration of mobile apps gives mobile loyalty programs a boost. Mobile app loyalty schemes enable businesses to remain actively involved in brand loyalty with their consumers. While both mobile applications and web apps will provide a positive experience compared to a loyalty program focused only on websites, a customer's and business' loyalty program has a lot more to offer. More and more consumers want everything to be made available from their smartphones. A mobile awards program provides consumers with digital access to their previous orders, ratings, special deals, rewards, and loyalty cards. In addition, the loyalty points earned in the app are easier to reach and it's easier for the company to keep up with the consumers once they have downloaded the app. Mobile apps allow marketers to reach consumers directly and collect detailed information about their purchase behavior, which in turn helps create a strong database and improve marketing efforts.

By Deployment (in %), Global Loyalty Management Market, 2019

Cloud accounted for XX% of the global volume in 2019 and is anticipated to dominate the market in the forecasted period

Global Loyalty Management Market is segmented by deployment type: Cloud and on-premises. Digital content development was driven by the widespread use of the internet and the broader usage of various technologies such as smartphones, the Web, and social media. Enterprises need solutions to enhance their mobile and hybrid content management and combine this with other loyalty management systems, including CRM and marketing strategic planning, to strengthen their marketing efforts and make it economically cost-efficient for the analyses and other purposes for real-time content collaboration among employees. Such solutions, however, are costly and offer minimal scalability. This allows businesses, in turn, to implement loyalty programs focused on the cloud. These strategies offer all the advantages at lower costs because they do not require high capital costs.

Source: Fatpos Global

Global Loyalty Management Market: Market Dynamics

Drivers

Penetration of Artificial intelligence and machine learning

Penetration of emerging technologies such as machine learning and artificial intelligence has enhanced consumer’s experience by predicting customer’s buying patterns by data analytics and thereby influencing their buying pattern. This has further transformed the loyalty market. This analysis is aimed at potential consumers to enhance their buying experience, which in turn fuels the market growth.

Restraints

Limited awareness about security and data privacy

The key challenges for the loyalty industry are not designing effective loyalty programs and not having a good consumer relationship between customer and company. These two problems impede market demand for solutions for loyalty management. Moreover, stringent government regulations about data breaching have impeded market growth. Many security rules limit the consumer to share data related to them. This results in the failure of proper and sufficient knowledge can that be provided to the enterprises, thus sellers fail to provide efficient loyalty schemes.

Global Loyalty Management Market: Key Players

Bond Brand Loyalty (Canada)

Company Overview

Business Strategy

Key Product Offerings

Financial Performance

Key Performance Indicators

Risk Analysis

Recent Development

Regional Presence

SWOT Analysis

Brierley+Partners (US)

Apptivo (US)

TIBCO (US)

Yotpo (US)

Lacek (US)

Loyalty Gator (Canada)

Epsilon (US)

ICF Next (US)

Smile.io (Canada)

FiveStars (US)

Oracle (US)

Other prominent players

Global Loyalty Management Market: Regions

North America was the largest market accounting for 42% of the total market volume share in 2019

In addition to integrating advanced technologies like machine learning and IA, this area comprises developed economies like the US and Canada that have equally embraced the latest instruments in fields like customer data analysis and real-time reporting, thereby enabling organizations in these economies to succeed in the loyalty management market domain.

Asia Pacific: China, Japan, India, and Rest of Asia Pacific

Europe: Germany, the UK, France, and the Rest of Europe

North America: The US, Mexico, and Canada

Latin America: Brazil and Rest of Latin America

Middle East & Africa: GCC Countries and Rest of Middle East & Africa

Source: Fatpos Global

Global Loyalty Management market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y

Growth, CAGR – United States and Canada

Latin America Market Size, Share, Trends, Opportunities, Y-o-Y

Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America

Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth,

CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium,

Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and the Rest of Europe

APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth,

CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and the Rest of APAC

MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth,

CAGR – North Africa, Israel, GCC, South Africa

Global Loyalty Management market report also contains analysis on:

Loyalty Management Market Segments:

By Deployment Type:

Cloud

On-premises

By Application Type:

Web

Mobile

Loyalty Management Market Dynamics

Loyalty Management Market Size

Supply & Demand

Current Trends/Issues/Challenges

Competition & Companies Involved in the Market

Value Chain of the Market

Market Drivers and Restraints