Customer loyalty: the loyalty management market

To summarize, the report from which we take this data is the Loyalty Big Picture Report, published by the company LoyaltyOne, a market leader in the segment of loyalty programs, for large corporate entities whose valuable interviews were conducted on five of the most important markets where loyalty programs are far more advanced than ours, and which are: United States, United Kingdom, Brazil, Singapore and Canada.
Within these five states, the U.S. and U.K. are the most mature markets for e-commerce but also for everything related to loyalty systems.

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interviste in 5 mercati 1

There are 5,700 respondents, of which 4,500 are members of B2C loyalty programs (i.e., end customers who show up at stores with loyalty cards) and 1,200 are operators, i.e., large companies or retail chains that have issued their customers with a targeted loyalty program.

Let us now see how the loyalty market can be measured and, more importantly, whether we can measure how much it amounts to.

We can see how the figures are extremely important starting from the 75 billion spent annually on loyalty systems (we repeat, in the tracked countries) while, as far as execution strategies through CRM systems, so systems that encompass all the system and business data work (worth 51 billion) while for reading and transaction systems (the scanners, the cash registers rather than the magnetic storage systems that can also be our good loyalty cards), we are talking about current spending of 46 billion to get to an extremely large spending of 151 billion that is allocated for advertising and brand awareness services, spent to have digital campaigns used, both directly to sell, but also to make sure that one’s brand circulates and spreads as much as possible and always remains in the memory of potential customers/consumers.

We arrive at a total investment of about $323 billion just in the countries put under monitoring.

However, we also have to consider that there is the whole Asian side that is really advancing at an impressive rate, so just to cite examples we have Alibaba (Aliexpress) which, is growing at a very high rate and, is achieving market share at an all-time high, year after year.

According to one of the operators interviewed, the growths in this field are still even very low and measured around 10/15% because when we talk about digital we are talking about a world that is still really all to be discovered but above all to be built, given the backward conditions in which the bulk of the sectors are in, consequently, the 10/15% that we are measuring is not the desired one as far as loyalty systems are concerned.

At this point we prepare ourselves for a question that might even be rhetorical namely… Despite all this money invested, what would be or what should be the reasons for increasing investments in customer loyalty systems even more?

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