Global Loyalty Management Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Loyalty Management Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Loyalty management revolves around pleasing/rewarding your repeat customers. The keyword here is repeat. Customers who only buy one thing in their life are not your target audience. So customers who buy (semi-)frequently are the ones who you want to focus on with loyalty management. However, it is possible to target new customers in an effort to convert them to repeated customers.

Market Overview:

The latest research study on the global Loyalty Management market finds that the global Loyalty Management market reached a value of USD 3301.71 million in 2022. It’s expected that the market will achieve USD 6266.24 million by 2028, exhibiting a CAGR of 11.27% during the forecast period.

Increasing Downstream

With the development of the economy, many regions have entered the era of inventory game. The competition between companies has intensified. The management realizes that the cost of developing new customers is far greater than the cost of maintaining old customers. The loss of talents may impact the company's development, Frequent recruitment will also increase the company's recruitment costs, and the importance of channels will increase. Therefore, the demand for how to improve the loyalty of customers, employees and channels is growing, which is an important driving force for the industry.

Increasing Trade Uncertainty

The development of the world economy is mainly attributed to the development of world trade. The development of world trade depends to a large extent on the stable relations between various economic entities. Geopolitical turmoil, changes in the EU system, and trade wars will all cause continued instability in the global economy. If major economic entities are in conflict, they will also affect political, cultural and technological exchanges, increase trade frictions, and hinder the process of globalization and world economic development.

The best example is the trade war between China and the United States in recent years. Recently, Chinese consulate in Houston is ordered to close by US. China and the United States are the two most powerful economies in the world, and both contain huge potential business opportunities. The trade war between the two countries may affect the global business of industry companies, thereby restricting the development of the industry.

Region Overview:

Geographically, North America held the largest market share – 41.08% in 2021.

Company Overview:

Kobie Marketing is one of the major players operating in the Loyalty Management market, holding a share of 9.81% in 2020.

Kobie Marketing

Kobie Marketing operates as a customer loyalty marketing and customer retention agency. The company primarily focuses on the provision of solutions to customer loyalty and retention challenges.

Epsilon

Epsilon provides marketing solutions that integrate data, creativity, and technologies for advertisers and Fortune 100 brands to ignite connections between them and customers.

Segmentation Overview:

By type, Customer Loyalty segment accounted for the largest share of market in 2021.

Customer Loyalty

Customer loyalty is both an attitudinal and behavioral tendency to favor one brand over all others, whether due to satisfaction with the product or service, its convenience or performance, or simply familiarity and comfort with the brand. Customer loyalty encourages consumers to shop more consistently, spend a greater share of wallet, and feel positive about a shopping experience, helping attract consumers to familiar brands in the face of a competitive environment.

Employee Retention

Employee retention refers to the ability of an organization to retain its employees. Employee retention can be represented by a simple statistic (for example, a retention rate of 80% usually indicates that an organization kept 80% of its employees in a given period).

Channel Loyalty

Channel loyalty is the loyalty cooperation between vendors and distributors, usually though some loyalty programs to enhance the relationship of both sides.

Application Overview:

In the Loyalty Management market, 18.72% of the total value was generated through the BFSI segment by application in 2021.

Key Companies in the global Loyalty Management market covered in Chapter 3:

SAP SE
ICF International
Epsilon
Aimia Inc.
Lumata Digital
MicroStrategy
Kobie Marketing
Maritz Holdings
Oracle Corporation
Comarch
Brierley+Partners
Bond Brand Loyalty
Fidelity Information Services
TIBCO Software

In Chapter 4 and Chapter 14.2, on the basis of types, the Loyalty Management market from 2018 to 2029 is primarily split into:

Customer Loyalty
Employee Retention
Channel Loyalty

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Loyalty Management market from 2018 to 2029 covers:

BFSI
Healthcare & Life Sciences
Retail & Consumer Goods
Manufacturing
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)