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Loyalty Management Market worth $25.4 billion by 2029- Exclusive Report by MarketsandMarkets™

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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

Report Metrics

Details

Market size available for years

2018-2029

Base year considered

2023

Forecast period

2024–2029

Forecast units

Value (USD) Million/Billion

Segments Covered

By Offering, Solution, Services, Operator, Vertical and Region

Region covered

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

Companies covered

The major players in the Loyalty Management Market are 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).

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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About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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Unlock an Exclusive Olympic Experience: Celebrating Live4Well’s Sold-Out Genesis NFT

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HONG KONG, May 25, 2024 /PRNewswire/ — The buzz surrounding Live4Well’s successful Genesis NFT membership launch on May 23 has captivated both traditional and web3 communities. Combining the power of AI technology and decentralized physical infrastructure (DePin) concept, Live4Well has infused new life into the NFT market. The overwhelming response to their first NFT sales, showcases the project’s immense potential. Renowned web3 community leaders from Azuki, Bored Ape, Pudgy Penguins, WELL3, etc have joined forces with Live4Well, propelling the Genesis NFT membership collection to its resounding success.

Live4Well aims to transform the wellness industry by creating a reward-based infrastructure that connects global fitness data, enhances their AI database, and drives the development of sports and wellness. Backed by a multi-billion family office, which recently invested $20 million in Live4Well, the project has gained support in both web3 and traditional spaces. The team believes that every drop of sweat and effort toward better health should be rewarded, fostering motivation and integrating exercise into daily lives for enhanced well-being.

Live4Well’s announcement of an Olympic-themed raffle for Genesis NFT holders reflects their commitment to connecting wellness between Web2 and Web3 platforms. This testament to Live4Well’s demand and innovative vision solidifies their position as a promising leader in the industry. Their integration of the Olympic signifies their determination to inspire a global audience, leveraging blockchain technology to create an immersive ecosystem that revolutionizes how individuals engage with fitness on a daily basis for better health. Live4Well’s dedication to bridging the gap between traditional practices and the digital landscape sets them apart as pioneers in promoting well-being on a global scale.

What is Genesis NFT membership?

The Genesis NFT unlocks a multitude of benefits for holders, including the opportunity to cash out their sportive income and access a range of exclusive physical products and services. In addition to future airdrops and angel round whitelist privileges, Genesis holders will receive VIP tailor-made product packs from an innovative German sportswear company, elevating their exercise performance to new heights. With over 400 million sweat points farmed by their users, they are eager to redeem through the Genesis NFT membership. These enticing incentives explain why there was a widespread eagerness to participate in this thrilling event.

Unlike typical projects that raise funds before launching products or services, Live4Well has already released its AI-powered app, amassing over 250,000 users as a community base actively engaging in daily exercise. This early success has fostered a promising community within the wellness industry, as users trust Live4Well’s roadmap and collaborative ventures. The growing traction from both ordinary individuals and web3 enthusiasts has intensified the demand for redeeming and cashing out sweat points, the project’s exercise-based rewards. Obtaining the Genesis NFT membership is now seen as an essential step for accessing the highest tier of benefits and cashing out sportive income.

(PRNewsfoto/Live4Well)

What’s next for Live4Well?

Following the Genesis sales, Live4Well’s team will shift their focus to the upcoming token generation event (TGE) and a series of farming events. They also have exciting plans for partnerships and other collaborations in the global wellness and fitness industries. If you missed the initial launch, be sure to stay updated on Live4Well’s journey and join this extraordinary revolution.

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CGTN: Eyeing Chinese modernization, China doubles efforts to further deepen reform on all fronts

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BEIJING, May 25, 2024 /PRNewswire/ — Built after China’s reform and opening up, Rizhao Port in east China’s Shandong Province is a vital global hub for the transshipment of energy and bulk raw materials.

Through recent technological innovation, the port has been upgraded into a modern port, serving as a key node for the New Eurasian Land Bridge and an important hub for the Belt and Road Initiative.

Rizhao Port, together with Qingdao Port, Yantai Port and Bohai Bay Port, formed Shandong Port Group Co., Ltd. five years ago. Last year, the total cargo throughput of the four ports exceeded 1.7 billion tonnes, ranking first in the world.

As part of his first leg of an inspection tour in Shandong Province from Wednesday to Friday, Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, visited the port, recognizing its achievements and urging the province to build a high-level platform for major international exchanges and cooperation.

“Reform is the driving force for development,” Xi emphasized on Thursday while chairing a symposium in Shandong’s capital of Jinan, attended by representatives from businesses and academia.

To deepen reform further on all fronts, efforts should be focused on the overarching goals of improving and developing the socialist system with Chinese characteristics and modernizing China’s governance system and capacity, he stressed.

Deepening reform centered on Chinese modernization

Xi’s trip to Shandong is the first local inspection he has made since the CPC Central Committee Political Bureau held a meeting on April 30, which decided that the third plenary session of the 20th CPC Central Committee will be held in Beijing in July, and the session will primarily examine issues related to further comprehensively deepening reform and advancing Chinese modernization.

Over the years, China’s reform of the economic system has been continuously improved, and the reform of its political and cultural systems has been steadily advanced and innovated.

Meanwhile, the reform of the ecological civilization system has been accelerated, and the reform of national defense and the military has achieved historic breakthroughs.

Comprehensively deepening reform has placed the construction of the national governance system and governance capabilities in a more prominent position. China has convened about 40 meetings of the Central Leading Group for Comprehensively Deepening Reform and 30 meetings of the Central Commission for Comprehensively Deepening Reform to improve the top-level design of reform.

From implementing the Foreign Investment Law and building pilot free trade zones to hosting a slew of major expos and accelerating the construction of Hainan Free Trade Port, China unswervingly deepens reforms and expands high-level opening up, injecting positive energy into global development and bringing tangible benefits to people worldwide.

At Thursday’s symposium, Xi said China should take resolute steps to remove the ideological and institutional barriers hindering the advancement of Chinese modernization and double down on its efforts to resolve deep-seated institutional challenges and structural issues.

Economic system reform should start with meeting realistic needs and tackling the most urgent matters, and it should advance theoretical and institutional innovation in the process of solving practical problems, he added.

A better life for the people

Xi has been stressing that reform should focus on what the people care about and expect the most. The aim, he has said, is to give the people a stronger sense of fulfillment.

Focusing on resolving the most practical problems that are of the greatest and most direct concerns to the people, China has continued to advance major reforms and system construction in the field of people’s livelihoods to allow the results of reform to benefit all people equally and promote their comprehensive development.

The Civil Code, anticipated for decades, finally came to life and was adopted in 2020, highlighting the respect and protection of individual freedom, dignity, interests and rights.

Since the 18th CPC National Congress, the country has built a total of more than 59 million units of various types of affordable and shantytown-renovated housing, helping settle over 140 million people into new homes.

“The Chinese people’s aspiration for a better life is the goal we have been striving for, and the ultimate purpose of advancing reform and promoting development is to improve the livelihood of the people,” Xi said.

Stressing the need to plan and advance reform based on the overall, fundamental and long-term interests of the people, Xi urged efforts to identify the key areas of reform and achieve breakthroughs based on the pressing concerns and aspirations of the general public, including employment, income growth, education, healthcare, housing, government services, childcare, elderly care, personal safety and property security.

https://news.cgtn.com/news/2024-05-24/Eyeing-Chinese-modernization-China-doubles-efforts-to-deepen-reform-1tRFe7yRTUY/p.html

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PagBank records its highest recurring net income in Q124, reaching 522 million BRL – an increase of +33% in the annual comparison

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TPV reached 112 billion BRL (+27% YoY), more than twice the industry’s growth and 31 billion BRL in deposits, reinforcing the balance sheet for expansion of receivables anticipation and credit concession.

SÃO PAULO, May 24, 2024 /PRNewswire/ — PagBank (NYSE: PAGS), a complete digital bank in financial services and payments solution and one of the largest digital banks in Brazil, announces its results for the first quarter of 2024 (Q124). The main highlights of the period include a record recurring net profit  of 522 million BRL (+33% YoY), while the net accounting profit reached 483 million BRL (+31 YoY%).

Alexandre Magnani, CEO of PagBank, points out the continuity of the good results presented in the last quarters, highlighting the expressive gain of market share in payments (acquirings), balancing growth with profitability, while the Company establishes itself among the largest financial institutions in Brazil in number of clients:

“We are more than 31 million customers and our execution has been consistent. We have consolidated our value proposition for micro, small, and medium-sized enterprises, facilitating the financial life of individuals and businesses. At the same time, we have captured opportunities for client-consumers who do not have a relationship with payment machines through payroll loans, our broad investment platform, and the offer of a complete bank,” says the CEO of PagBank.

In acquirings, the TPV registered was 112 billion BRL (+27% YoY), growing in all segments (MSMBs and Large Companies, E-commerce, and Cross-border businesses1). In digital banking, PagBank reached 66 billion BRL in Cash-In (+48% YoY), a metric that represents the financial volume received from other financial institutions in PagBank accounts, excluding acquisition, especially Pix, business account products, and salary portability.

The substantial volumes of TPV and Cash-in led deposits to record numbers of nearly 31 billion BRL (+64% YoY and +11%QoQ) despite the less favorable seasonality of the period, given that in the first months of the year, customers have more significant disbursements to honor the payment of taxes, such as IPTU and IPVA, and school yearly supplies, among other expenses.“We stand out for offering instant settlement for our customers and carrying out easy operations via Pix, leveraging our TPV and Cash-In volume in PagBank accounts. This, added to the fact that we have a banking license since 2019, means that we have the agility of a fintech and low funding costs like a traditional bank,” says Magnani. 

According to Artur Schunck, CFO of PagBank, operational growth does not harm the Company’s capital allocation. On the contrary, the acceleration of revenue growth and discipline in costs and expenses were the main levers of the record result. “The financial margins of the consolidated business were high. Our profit grew more than 30% compared to the Q1 2023, even with additional disbursements linked to the new cycle of growth and diversification of the operation, including geographical expansion and marketing actions in the period”, says Schunck.

The credit portfolio resumed growth and reached 2.7 billion (+8% QoQ) at the end of March, focusing on low-risk products such as consigned credit, the anticipation of the year withdrawal of FGTS (Severance Pay Fund), and credit cards with a limit attached to PagBank’s CDBs (a type of fixed-income investment). Schunck believes that despite short-term macroeconomic uncertainties regarding interest and inflation behavior, the worst is in the past, and he is confident in the credit strategy:

“We crossed the pandemic, the significant high-interest rate period, and one of the worst credit cycles in Brazil and still we have built a robust balance sheet and diversified our credit portfolio in terms of customers, products, and risks. Now, we are opening up opportunities to accelerate the concession and gradually expand the offer of credit products from the next few months,” says the CFO of PagBank. 

Other Highlights

Net revenue in the quarter was 4.3 billion BRL (+15% YoY), driven by the strong growth of the acquirings, led by MSMBs (micro, small and medium-sized businesses) and the advance in large accounts, with emphasis on online, cross-border, and automation, as well as the growth of higher margins in financial services. The number of clients reached 31.4 million, reinforcing PagBank’s position as one of the largest digital banks in the country.

In the period, PagBank was recognized as the best bank in Brazil and awarded the RA1000 seal of quality in service, both granted by the Reclame Aqui ranking and as one of the 50 most valuable brands in the country, according to a survey conducted by Kantar BrandZ.

Among the launches of the quarter, main highlights were PagBankPartnerships, a relationship and integration program with software companies and commercial automation; Seguro Empresarial (Business Insurance) offering coverage against fires, electrical damage, theft, burglary, and natural disasters, among others; and Tap to Pay Online, a new and exclusive technology in Latin America that allows the customer to run online transactions by bringing credit or debit card closer to the mobile phone on e-commerce platforms. In addition, PagBank has started to offer 1% cashback on all purchases made with the digital bank credit card and new investment options, such as the CBD, with a 130% CDI rate-variation yield.

“This current moment reminds us very much of our phase between 2018 and 2019, in which we grew in a fast and profitable way, and launched several products. We are very optimistic about the coming months and years of the Company”, says the CEO of PagBank. 

Rio Grande do Sul

PagBank has closely monitored the potential impacts of the ongoing climate tragedy in the state of Rio Grande do Sul and the developments in its operations. The Company’s TPV exposure in the state is similar to the state’s share in national GDP – around 5%. The Company says t is early to share some numbers since consumption in the affected regions have decreased due to the temporary closure of the business, while moving people to neighboring cities and states can increase consumption in unaffected areas.

“At this time, our focus is on supporting flood victims, especially our professionals working in the state of Rio Grande do Sul, through donations from PagBank and its professionals, in cash and goods, as well as offering special support to our affected customer,” says Magnani. 

Check out the financial results of PagBank in Q124 here.

About PagBank
PagBank promotes innovative solutions in financial services and means of payment, automating the purchase, sale, and transfer process to leverage individuals’ and enterprises’ businesses simply and securely. A company of the UOL Group – leader of the Brazilian Internet – PagBank acts as an issuer and acquirer, offering digital accounts and providing complete solutions for online and face-to-face payments (by mobile devices and POS devices). 

PagBank also has a wide variety of means of payment, such as credit and prepaid cards, bank transfers, payments by billet, and balance in the account, among others. PagBank (PagSeguro Internet Payment Institution S.A) is regulated by the Central Bank of Brazil as an electronic money-issuing payment institution, issuer of post-paid instruments and acquirer, having partnerships with the leading credit card issuers. Its parent company, PagSeguro Digital, is listed in the U.S. (NYSE: PAGS) and regulated by the Securities and Exchange Commission (SEC). The distribution of investment funds is carried out by BancoSeguro S.A., authorized by the Central Bank of Brazil, the Securities and Exchange Commission, and affiliated with ANBIMA. 

Visit the PagBank Press Room

1 GCECs: The Brazilian acronym for large companies (annual revenues above 12 million BRL), e-commerce and cross-border businesses.

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