The global loyalty programs market is on the rise, with a projected annual growth rate of 11.1% to reach US$150.97 billion in 2024. This growth is driven by various industry sectors adopting loyalty schemes to support business growth. In particular, quick service restaurants (QSR) and food delivery platforms are leveraging loyalty programs to drive customer engagement and increase sales.
Leading QSRs like McDonald’s and Domino’s are expanding their loyalty programs to attract more customers and boost revenues. McDonald’s plans to open 10,000 new outlets globally by 2027 and double its sales from the loyalty program to US$45 billion. Similarly, Domino’s is launching loyalty schemes in new markets like the United Kingdom to replicate the success seen in the United States.
Businesses are also exploring innovative ways to enhance their loyalty programs using Web3 capabilities. Visa recently launched a Web3 loyalty service with gamified giveaways, while Moonbeam Network and Grupo RAO plan to introduce a Web3 Loyalty Program in Brazil. Lufthansa also aims to launch an NFT-powered loyalty program to enhance the flight experience for customers.
Supermarket loyalty programs are gaining traction worldwide, with retailers like Tesco and Sainsbury’s offering loyalty schemes to drive consumer spending. Tesco’s Clubcard, for instance, has 21 million households enrolled, accounting for 80% of sales. In France, Netto launched a digital loyalty card to provide customers with access to exclusive offers and vouchers.
Overall, the global loyalty program industry is expected to witness significant growth over the next few years, fueled by the adoption of innovative technologies and strategic partnerships. Businesses across various sectors are embracing loyalty programs to enhance customer engagement, drive sales, and build brand loyalty.
For more insights on the global loyalty programs market and country-specific trends, check out the bundled offering of 20 reports provided by ResearchAndMarkets.com. From market intelligence to future growth dynamics, these reports offer comprehensive data analysis at both global and country levels to help businesses stay ahead in the competitive market landscape. Visit the ResearchAndMarkets website for more information.
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