CHENGDU, China, April 29, 2024 /PRNewswire/ — The International Horticultural Exhibition 2024 Chengdu kicked off on Friday, attracting hundreds of exhibitors from more than 30 countries.

Ahead of the event, the Chengdu Opening-up and International Cooperation Center organized several seminars between local enterprises and delegations from overseas cities that have friendly ties with Chengdu. On Thursday, a group from Ljubljana, capital of Slovenia and a twin city of Chengdu, met with local enterprises specializing in ecological and environmental protection.

“We are very grateful to the center for inviting us to the meeting,” said Zeng Xi, director of the investment and development department from Chengdu Environment and Investment Urban Management Service, a wholly-owned subsidiary of Chengdu Environment Group.

“We have found some fields of common interest between our group and Ljubljana, such as renewable resources, ecological conservation and new energy photovoltaics,” Zeng said, adding he hopes to establish an effective communication channel between the two sides for future cooperation.

Dejan Crnek, vice-mayor of Ljubljana, said: “We intend to collaborate with Chengdu in the sector of sustainable transportation. We all know the city has advanced hydrogen-powered vehicle and battery industries, and we hope to introduce those technologies to our city to increase urban operational efficiency. Upon my return, I will recommend Chengdu enterprises to relevant departments, and I believe there will be opportunities for cooperation.”

Representatives from Fergana, Uzbekistan, also visited the center on Thursday and met with local enterprises in the fields of trade, economy, industry, and cultural tourism. Among the participating Chengdu companies was Gioneco, a developer of urban digital platforms, which has launched projects in Uzbekistan.

“We have prepared for our projects in Uzbekistan since 2022, and have branched out into Fergana,” said Liu Yong, director of Gioneco’s marketing development department. “It is expected we will be able to access more international resources in the near future with the support of the center. Meanwhile, we plan to bring our business friends from Uzbekistan to Chengdu, helping local enterprises tap the international market and promoting bilateral trade.”

Expressing his admiration for Chengdu’s business environment, Azimjon Yuldashev, head of the Department of the Chamber of Commerce and Industry of Uzbekistan in Fergana Region, said he hopes to see a cooperation platform established by the center to help more Chinese companies grow in Uzbekistan and to assist Uzbek firms in coming to China.

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CHICAGO, April 26, 2024 /PRNewswire/ — Blockchain technology, sustainability-focused initiatives, subscription-based business models, and digital transformation will all have a significant impact on the Loyalty Management Market in the future. Data analytics will also drive personalised experiences in this market. In order to increase consumer engagement and loyalty, ecosystem collaborations, gamification, and voice-activated loyalty programmes will all be crucial. For firms to adjust to changing market trends and consumer tastes, regulatory compliance and ongoing innovation are crucial.

The Loyalty Management Market is expected to reach USD 25.4 billion by 2029 from USD 11.4 billion in 2024, at a CAGR of 17.3 % during 2024–2029, according to a new report by MarketsandMarkets™.

Browse in-depth TOC on “Loyalty Management Market”

326 – Tables
47 – Figures
275 – Pages

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Scope of the Report

Loyalty management has evolved into a crucial component of business strategy worldwide. Businesses across various industries are increasingly adopting sophisticated loyalty management solutions to enhance customer engagement, drive repeat purchases, and foster brand loyalty. With the proliferation of digital channels and the rise of personalized customer experiences, loyalty programs have become more targeted and data-driven, leveraging advanced analytics and artificial intelligence to deliver tailored rewards and incentives.

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The professional services segment contributed the largest market share in the Loyalty Management Market during the forecast period.

Professional service providers manage a part or the entire loyalty management lifecycle for enterprises, thereby comprehending business constraints and providing major insights that help these companies optimally utilize all available resources and make the most of their technological investments. The growth in the professional services segment is governed by the complexity of operations and the deployment of loyalty management solutions. It also provides support services throughout the business tenure and creates a relationship with the organization. These services help the marketing and operations teams enhance customer experience and raise ROIs as they are customized, easily applicable, and assure availability and performance to the maximum extent.

The BFSI vertical segment is estimated to hold the largest market size during the forecast.

The BFSI vertical requires loyalty management solutions to analyze data based on touchpoints, enabling brands to offer a personalized experience. A study by Accenture found that 75% of consumers expect brands to personalize their experiences, highlighting the growing demand for tailored interactions. This is particularly true in the BFSI sector, where customers expect products, services, and communication to be relevant to their individual needs and financial goals. This sector has incorporated data analytics and AI to deliver loyalty programs and increase customer engagement. There has been a continuous technological revolution in the banking sector in the form of Automated Teller Machines (ATMs), core banking, eBanking, and mobile banking, which gave rise to various services, such as Real-Time Gross Settlement (RTGS), Centralized Funds Management System (CFMS), National Electronic Funds Transfer (NEFT), and the use of credit, debit, and smart cards. Hence, banking and financial institutions are expected to invest greater resources in the market to focus on providing better loyalty programs to their customers.

Based on region, Asia Pacific is projected to register the highest CAGR during the forecast period.

Asia Pacific, home to nearly 40% of the world’s population, is witnessing diverse implementations of loyalty management technologies. The Asia Pacific region is undergoing a notable surge in adopting loyalty management, driven by the flourishing economies of India, China, Japan, Australia, and New Zealand. The rising prevalence of internet access and the escalating per-user engagement online have prompted organizations to bolster their presence in the loyalty management sector by leveraging digital channels, including social media, websites, emails, virtual assistants, and call centers.  Loyalty management solutions are adopted by many companies across industry verticals, whose primary focus is on client retention and further building sustainable customer relationships through these programs. Increasing customer retention also boosts profit margins and brings a stable source of income. Deploying a loyalty program entails an investment; however, strategies aimed at customer retention are more cost-effective than efforts directed at acquiring new customers. The surge in social media usage, the proliferation of internet access, and the expansion of the eCommerce sector constitute significant catalysts propelling the adoption of loyalty programs across Southeast Asia. Vietnam and Thailand emerged as the primary drivers within the region, with Malaysia, the Philippines, Singapore, and Indonesia following suit.

Top Key Companies in Loyalty Management Market:

The report profiles key players such as Epsilon (US), Oracle (US), Comarch (Poland), ICF Next (US), Bond Brand Loyalty (Canada), Merkle (US), Capillary (Singapore), Jakala (Italy),  Kobie (US), Giift Management (Singapore), Maritz Motivation (US), Cheetah Digital (US), Collinson (UK), Loyalty One (Canada), Punchh (US), Ebbo (US), Preferred Patron (US),  Loopy Loyalty (China), Paystone (UK), LoyLogic (Switzerland), Ascenda (Singapore),  Loyalty Juggernaut (US), Gratifii (Australia), SAP SE (Germany),  Annex Cloud (US), Apex Loyalty (US), Sumup (UK), Kangaroo (Canada), Smile.io (Canada), SessionM (US), LoyaltyLion (UK),  Yotpo (US), SailPlay (US), and Zinrelo (US).

Recent Developments:

• In March 2024, Epsilon launched the next generation of its retail media platform. Epsilon Retail Media applied AI and person-first identity in the ad server, unlocking opportunities to drive stronger outcomes with shoppers on retailers’ properties, across the open web or in tandem.
• In May 2023, Bond Brand Loyalty announced a strategic investment in its business from Colorado-based private equity firm, Mountaingate Capital. The announcement followed a substantial period of growth for Bond and reflected the potential for further expansion in both reach and offerings to serve clients better.
• In April 2023, Capillary Technologies acquired Brierley to expand its portfolio.
• In January 2023, Giift acquired a strategic majority interest in InTouch, a loyalty solutions provider based in Indonesia.

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Loyalty Management Market Advantages:

• By rewarding consumers for their recurring business, fostering brand loyalty, and lowering attrition rates, loyalty management solutions assist companies in keeping customers.
• By providing customers with individualised offers, incentives, and prizes based on their preferences and behaviour, loyalty programmes encourage greater customer engagement and increase repeat business and brand advocacy.
• With the help of loyalty management tools, businesses can make well-informed decisions and effectively target their marketing efforts by gaining vital insights about consumer behaviour, preferences, and spending habits.
• By providing individualised prizes, exclusive benefits, and VIP treatment, loyalty programmes raise customer satisfaction and foster enduring connections with clients.
• By encouraging consumers to spend more, upsell and cross-sell goods, and recommend the brand to others, loyalty management solutions generate more sales and income and boost profitability and business expansion.
• By providing distinctive benefits, experiences, and value-added services that customers find appealing, loyalty programmes assist companies in standing out from the competition and enhancing customer loyalty and market placement.

Report Objectives

• To determine and forecast the global Loyalty Management Market by offering, solution, services, operator, vertical, and region from 2024 to 2029, and analyze the various macroeconomic and microeconomic factors affecting market growth.
• To forecast the size of the market segments concerning five central regions: North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America.
• To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the Loyalty Management Market.
• Analyze each submarket concerning individual growth trends, prospects, and contributions to the overall Loyalty Management Market.
• To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the Loyalty Management Market.
• To profile the key market players; provide a comparative analysis based on business overviews, regional presence, product offerings, business strategies, and key financials; and illustrate the market’s competitive landscape.
• Track and analyze competitive developments in the market, such as mergers and acquisitions, product developments, partnerships and collaborations, and Research and Development (R&D) activities.

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• Consumption of standard coal is cut by 3,234 tons, with CO2 emissions reduced by 8,409 tons. Water usage decreased by 40%.
• The Company’s investment in environmental protection increased to 70 million RMB.
• Shanghai Electric continues to lead in green technology, achieving multiple breakthroughs in low-carbon technological innovation, with investment in R&B hitting a five-year record high.

SHANGHAI, April 28, 2024 /PRNewswire/ — Shanghai Electric (SEHK:2727, SSE:601727) announced that the Company has published the 2023 edition of its Environment, Social, and Governance report, which highlights its latest efforts in driving toward sustainability across its corporate operations throughout the year. The newest report, the eighth since its first one that was released in 2016, offers an overview of Shanghai Electric’s technological milestones in its three major business areas – energy equipment, industrial equipment, and integrated services – through which the Company helps facilitate green, low-carbon transformation in countries such as China, Pakistan, and the United Arab Emirates.

“At Shanghai Electric, we prioritize innovation in green technology, accelerating low-carbon development while zeroing in on eco-investing as part of our effort to strengthen our role in tackling global climate issues. Last year has seen us expand cooperation for green projects spanning transportation, energy, and infrastructure, helping spur economic growth with minimal environmental impact. In 2023, Shanghai Electric continued to take actions to support the United Nations’ 2030 Agenda for Sustainable Development, fostering international exchange on the climate crisis by supporting COP28 and making an effective contribution to decarbonization,” said Wu Lei, Chairman of Shanghai Electric.

Significant Headway Towards Sustainability Driven by Tech Innovation

Over the past year, Shanghai Electric has ramped up investment to develop new technology and products for driving decarbonization and global climate protection. In 2023, the Company’s spending on research and development (R&D) hit 5.381 billion RMB, the highest in the past five years. Shanghai Electric’s latest venture in heterojunction (HJT) technology and N-type bifacial modules has bolstered its solar product portfolio, with the percentage of R&B investment increasing to 33.5%. The launch of a range of new products in 2023, which includes the 16MW offshore wind turbine powered by the Poseidon platform, the 500kW containerized vanadium liquid flow energy storage system, and the 2000Nm3/H Alkaline electrolyzer, has further boosted Shanghai Electric’s technological prowess. The R&B endeavors enabled the Company to acquire 2,931 patents.

“2023 marked a year of innovation for Shanghai Electric. We believe that technology is the primary productive force that drives our business forward, so we are strengthening our position in the green energy industry, focusing on the development of energy equipment, industrial equipment, and integrated services to promote industrial transformation and upgrading,” said Liu Ping, President of Shanghai Electric.

In 2023, Shanghai Electric leveraged its strategic advantages and industry expertise to provide green solutions for more energy and industrial companies, contributing to low-carbon green transformation and development. Shanghai Electric participated in the construction of the world’s first fourth-generation nuclear power station and an ultra-supercritical double reheat coal-fired generator unit that refreshes the world’s record for its low coal consumption. In addition, Shanghai Electric’s landmark project, the world’s first floating wind-fishery integration project, was completed in the year, with its solutions empowering green transformation for China, the United Arab Emirates, Pakistan, Serbia, Malaysia, the United Kingdom, Uzbekistan, and more.

Diverse Professional Pathways Empower Employee Career Development

Shanghai Electric continuously enhances learning and career advancement opportunities for its workers, providing upskilling and reskilling programs to benefit its employees. The Company fosters a culture of inclusivity, ensuring the continuous growth and adaptability of its workforce in a rapidly changing global landscape. In 2023, the Company organized seminars and training programs for middle-aged and young managerial and technical workers, issued a white paper on occupational health management, took measures to strengthen awareness of workplace safety, and hosted an array of activities designed to enrich employee experiences and improve their employability.

Supporting Community Development and Improving Local Livelihoods

In 2023, Shanghai Electric invested 30.433 billion RMB in supporting rural construction in China with donations made by the Company and its subsidiaries to enhance local infrastructure and livelihoods, reaching 5.088 million RMB. In Dubai, Shanghai Electric worked with local communities to develop an HSE (Health, Safety, and Environment) management system with the aim of improving the ecological environment and biodiversity in areas near the Mohammed bin Rashid Al Maktoum Solar Park.

For communities near the Thar integrated coal mine and power project in Pakistan that were affected by natural disasters, Shanghai Electric provided air conditioners, and computers, and built a 10,000-square-meter hospital, which is dubbed a “mobile hospital” by local residents. During Eid al-Fitr 2024, Shanghai Electric also donated foods and vegetables to neighboring villages as part of its initiative to connect local communities and promote multiculturalism.

Please visit https://www.shanghai-electric.com/listed_en/upload/resources/file/2024/04/28//101437.pdf to read more of the report.

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