Dublin, July 04, 2024 (GLOBE NEWSWIRE) — The “US Retail Loyalty Programs 2024: Personalization Is Becoming Table Stakes for Brands and Retailers” report has been added to ResearchAndMarkets.com’s offering.
The proliferation of loyalty programs has heightened competition, so retailers will have to dig deeper into their customer data to drive active participation.
Inflation and ongoing economic fallout from the pandemic have challenged consumers’ loyalty to specific brands and retailers in the past several years. At the same time, more brands and retailers are launching formal loyalty programs that will keep shoppers coming back while yielding valuable customer data. To stand out from the crowd, retail loyalty programs must focus on enhanced personalization to meet consumer needs and expectations on a more individualized level.
Key Question: How can brands and retailers leverage personalization to build compelling loyalty programs that provide high-quality data and boost revenues?
Key Stat: US consumers held an average of 17.9 loyalty program memberships in 2023, a record high, and actively participated in 50% of them.
Key Report Features:
- 3 Exportable files for easy reading, analysis and sharing.
- 11 Charts: Reliable data in simple displays for presentations and quick decision making.
Key Topics Covered:
- Executive Summary
- Loyalty programs are becoming a bigger part of the retail landscape
- Loyalty programs are generating high demand from consumers and retailers
- Consumers seek a smoother path to rewards and expanded options for redemption
- Personalization tools yield valuable zero-party data
- Loyalty is entering its gamification era
- Sources
- Media Gallery
Charts in This Report
- US Consumers Reached New Highs in Loyalty Program Membership and Engagement in 2023
- Leading Reasons That US Adults Currently Participate in a Loyalty or Rewards Program, 2022 & 2023 (% of respondents)
- Discounts, Surprises, and Exclusive Benefits Are the Most In-Demand Loyalty Program Features
- Loyalty Discounts and Freebies Matter Less to Gen Zers Than to Adult Consumers Overall
- Consumers Rank Tailored Loyalty Programs Highest Among Personalized Shopping Features
- Experience-Based Rewards US Adults Would Be Most Interested in Receiving From Brands, Oct 2023 (% of respondents)
- Loyalty or Reward Program Features That US Adults Don’t Currently Like, Oct 2023 (% of respondents)
- Gen Zers and Millennials Are More Receptive to Receiving Loyalty Offers Through Varied Channels
- 4 Types of Consumer Data
- Most Consumers Are Willing to Exchange Zero-Party Data for Rewards in a Loyalty Program
- Consumers Are Interested in Gamified Features in Retail and CPG Loyalty Programs
For more information about this report visit https://www.researchandmarkets.com/r/2c8hz4
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