Global Retail Bank Loyalty Program Market Growth (Status and Outlook) 2023-2029

Global Retail Bank Loyalty Program Market Growth (Status and Outlook) 2023-2029

Loyalty programs are structured marketing strategies designed by merchants to encourage customers to continue to shop at or use the services of businesses associated with each program. These programs exist covering most types of business, each one having varying features and rewards schemes. Loyalty programs have emerged as one of the key marketing tools in the global retail banking industry. Retail banks offer a number of loyalty programs in developed economies, however many of these are commoditized. This has compelled banks to introduce innovative programs in order to remain both competitive and profitable. There is also an increased pressure on costs due to new regulatory trends in last five years. Loyalty programs are being viewed as an important revenue-driving tool and have been proven to reduce customer acquisition costs. Retail banking in emerging economies is still in its developmental stages, as illustrated by its relatively low loyalty program penetration rates. Retail banking is a typical mass-market banking industry that lets its customers use local branches of the more widespread commercial banking establishments. Retail banking is also generally known as consumer banking. Its services include mortgages, certificates of deposit (CDs), savings and checking accounts, debit/credit cards, and personal loans. The retail banking sector mainly focuses on catering to the needs of its retail clients.

LPI (LP Information)' newest research report, the “Retail Bank Loyalty Program Industry Forecast” looks at past sales and reviews total world Retail Bank Loyalty Program sales in 2022, providing a comprehensive analysis by region and market sector of projected Retail Bank Loyalty Program sales for 2023 through 2029. With Retail Bank Loyalty Program sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Retail Bank Loyalty Program industry.

This Insight Report provides a comprehensive analysis of the global Retail Bank Loyalty Program landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Retail Bank Loyalty Program portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Retail Bank Loyalty Program market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Retail Bank Loyalty Program and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Retail Bank Loyalty Program.

The global Retail Bank Loyalty Program market size is projected to grow from US$ 976.4 million in 2022 to US$ 1424.1 million in 2029; it is expected to grow at a CAGR of 5.5% from 2023 to 2029.

Global retail bank loyalty program main players are Maritz, FIS Corporate, IBM, Aimia, etc. Global top 3 manufacturers hold a share about 50%. North America is the largest market, with a share nearly 50%.

This report presents a comprehensive overview, market shares, and growth opportunities of Retail Bank Loyalty Program market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type
Subscription-based Program
Points Program
Others

Segmentation by application
Personal User
Business User

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
FIS Corporate
Maritz
IBM
TIBCO Software
Hitachi-solutions
Oracle Corporation
Aimia
Comarch
Exchange Solutions
Creatio
Customer Portfolios
Antavo

Please note: The report will take approximately 2 business days to prepare and deliver.