Dublin, Feb. 06, 2026 (GLOBE NEWSWIRE) — The “India Loyalty Market Size & Forecast by Spend Value Across 100+ KPIs by Program Type, Channel Mix, Sector, Embedded Loyalty Penetration, and Platform Spend Segmentation – Databook Q1 2026 Update” report has been added to ResearchAndMarkets.com’s offering.
The loyalty market in India is expected to grow by 17.7% annually, reaching US$4.07 billion by 2026. The loyalty market in the country has experienced robust growth during 2021-2025, achieving a CAGR of 19.9%. This upward trajectory is expected to continue, with the market forecast to grow at a CAGR of 15.3% from 2026 to 2030. By the end of 2030, the loyalty market is projected to expand from its 2025 value of US$3.45 billion to approximately US$7.18 billion.
The Indian loyalty program market is competitive but ecosystem-led. Large platforms and organised retailers dominate through control of daily consumer touchpoints, while new entrants focus on embedded capabilities rather than direct consumer programs. Partnerships and acquisitions are selective and capability-driven, not consolidative. Over the forecasting period, competition is expected to intensify around ecosystem depth, merchant integration, and regulatory readiness, reinforcing the advantage of players with scale, distribution, and operational discipline.
Competition is defined by ecosystem control rather than standalone programs
The Indian loyalty market is highly competitive but structurally different from mature Western markets. Competition is not centred on independent loyalty schemes; instead, it is driven by large digital and retail ecosystems that embed loyalty within broader consumer journeys. Platforms that control high-frequency use cases commerce, payments, and everyday services set the competitive agenda. This limits space for standalone loyalty operators and raises entry barriers for new programs that lack distribution scale.
Platform-led incumbents anchor the market through scale and daily engagement
The competitive landscape is dominated by a small group of ecosystem players. Tata Neu operates a multi-brand loyalty construct spanning grocery, electronics, and lifestyle retail. Flipkart continues to position Flipkart Plus as a benefits-led layer tied to ecommerce and partner services. In payments, PhonePe and Paytm embed rewards directly into UPI-led transaction flows.
These players compete by deepening engagement within their own ecosystems rather than by directly challenging each other’s loyalty constructs.
Brand-led retail loyalty competes on omnichannel execution, not novelty
Organised retail groups continue to operate brand-centric loyalty programs that span physical and digital formats. Reliance Retail integrates loyalty across store formats and digital touchpoints, while Shoppers Stop maintains a long-running loyalty program focused on repeat in-store engagement. Competitive pressure in this segment is focused on execution consistency linking POS, apps, and customer identity rather than on introducing new reward mechanics.
New entrants focus on embedded loyalty and merchant enablement
New competitive entry in India is primarily occurring at the infrastructure and enablement layer. Loyalty-tech providers and fintech-led players are offering modular, embedded loyalty capabilities cashback engines, offer management, and rewards orchestration rather than launching consumer-facing programs. These entrants target mid-sized merchants and digital-first brands that want loyalty functionality without building full programs in-house, increasing competitive pressure on traditional full-suite loyalty platforms.
Reasons to Buy
- Comprehensive Market Intelligence: Gain a comprehensive view of the loyalty market by quantifying total loyalty spend value and its composition across loyalty schemes and loyalty platforms, supported by retail context indicators to benchmark market scale, structure, and growth dynamics.
- Granular Loyalty Spend Coverage: Analyze loyalty spend value across loyalty schemes and loyalty platforms, supported by structured segmentation across program types (e.g., point-based, tiered, cashback, subscription, community, gaming, mission-driven, paid, and referral-led formats).
- Channel and Sector-Level Execution Insights: Evaluate how loyalty spend is distributed across in-store, online, and mobile channels, and across key verticals including Retail, Financial Services, Healthcare & Wellness, Restaurants & Food Delivery, Travel & Hospitality, Telecoms, and Media & Entertainment, with dedicated sector channel views.
- Program Structure and Participation Mix: Understand how loyalty schemes differ by business model (seller-driven vs. payment-instrument-driven), accessibility (card-based vs. digital), consumer type (B2B vs. B2C), and membership type (free, premium, and free+premium), enabling more precise program design and competitive benchmarking.
- Embedded Loyalty and Emerging Mechanisms Tracking: Assess the evolution of embedded vs. non-embedded loyalty and track spend splits linked to program enablement, including AI-driven and blockchain-driven loyalty program spend where captured in the dataset.
- Platform Spend and Vendor/Deployment Benchmarking: Benchmark loyalty platform economics by software use case (analytics/AI-driven vs. management platforms), solution partner model (in-house vs. third-party), deployment (cloud vs. on-premise), and offering mix (software vs. services; custom-built vs. off-the-shelf).
- Consumer Demographics and Program KPI Lens: Access loyalty spend share by age, income, and gender, alongside decision-critical program KPIs such as loyalty penetration (% of retail sales under loyalty), primary motivation split, breakage rate, enrollment channel mix, and embedded loyalty penetration by channel.
- Decision-Ready Databook Format with 100+ KPIs: Leverage a structured dataset with historical and forecast coverage through 2030, designed for direct integration into market models, strategic planning, and executive presentations by retailers, platforms, payment providers, technology vendors, and investors.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 127 |
| Forecast Period | 2026 – 2030 |
| Estimated Market Value (USD) in 2026 | $4.07 Billion |
| Forecasted Market Value (USD) by 2030 | $7.18 Billion |
| Compound Annual Growth Rate | 15.3% |
| Regions Covered | India |
Report Scope
India Retail Sector Market Context
- India Retail Industry Market Size, 2021-2030
- India Ecommerce Market Size, 2021-2030
- India POS Market Size Trend Analysis, 2021-2030
India Loyalty Spend Market Size and Growth Dynamics
- India Loyalty Spend Market Size and Future Growth Dynamics, 2021-2030
- India Loyalty Spend on Schemes by Value Accumulated and Value Redemption Rate, 2025
- India Loyalty Spend Share by Functional Domains, 2021-2030
- India Loyalty Spend by Loyalty Schemes, 2021-2030
- India Loyalty Spend by Loyalty Platforms, 2021-2030
India Loyalty Schemes Spend Segmentation by Loyalty Program Type
- Point-based Loyalty Program
- Tiered Loyalty Program
- Mission-driven Loyalty Program
- Spend-based Loyalty Program
- Gaming Loyalty Program
- Free Perks Loyalty Program
- Subscription Loyalty Program
- Community Loyalty Program
- Refer a Friend Loyalty Program
- Paid Loyalty Program
- Cashback Loyalty Program
India Loyalty Schemes Spend Segmentation by Channel
India Loyalty Schemes Spend Segmentation by Business Model
- Seller Driven
- Payment Instrument Driven
- Other Segment
India Loyalty Schemes Spend Segmentation by Key Sectors
- Retail
- Financial Services
- Healthcare & Wellness
- Restaurants & Food Delivery
- Travel & Hospitality (Cabs, Hotels, Airlines)
- Telecoms
- Media & Entertainment
- Other
Sector Channel Views: Loyalty Schemes Spend by Key Sectors and Channels
- Online Loyalty Spend by Sector, 2021-2030
- In-store Loyalty Spend by Sector, 2021-2030
- Mobile App Loyalty Spend by Sector, 2021-2030
India Retail Sector Deep-Dive: Loyalty Schemes Spend by Retail Segment
- Diversified Retailers
- Department Stores
- Specialty Stores
- Supermarket and Convenience Store
- Other
India Loyalty Schemes Spend Segmentation by Accessibility
- Card Based Access
- Digital Access
India Loyalty Schemes Spend Segmentation by Consumer Type
- B2B Consumers
- B2C Consumers
India Loyalty Schemes Spend Segmentation by Membership Type
- Free
- Free + Premium
- Premium
India Loyalty Spend Split by Embedded vs. Non-Embedded Loyalty
- Embedded Loyalty Programs
- Non-Embedded Loyalty Programs
India Loyalty Spend Split by Use of AI / Blockchain
- AI Driven Loyalty Program
- Blockchain Driven Loyalty Program
India Loyalty Platform Spend Segmentation by Software Use Case
- Analytics and AI Driven
- Management Platform
India Loyalty Platform Spend Segmentation by Vendor / Solution Partner
- In-house
- Third-Party Vendor
India Loyalty Platform Spend Segmentation by Deployment
India Loyalty Platform Spend Segmentation by Offering
- Software
- Services
- Custom Built Platform vs. Off the Shelf Platform
India Consumer Demographics & Behaviour (Loyalty Spend Share), 2025
- Age Group
- Income Level
- Gender
India Loyalty Program KPIs, Behavioral Metrics & Embedded, 2025
- Primary Loyalty Motivation Split Analysis
- Loyalty Program Breakage Rate Analysis
- Loyalty Program Enrollment Channel Mix Analysis
- Embedded Loyalty Penetration by Channel
For more information about this report visit https://www.researchandmarkets.com/r/fdqudh
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