In this report, LP Information studies the present scenario (with the base year being 2017) and the growth prospects of global Loyalty Management market for 2018-2023.
Loyalty management deals with designing of rewards to consumers for past purchase as well as provides them incentives with an objective to make future purchase. Rewards program aims at providing strong value to the customers followed by improved customer penetration, cross selling and retention. A loyalty management system consists of operational parameters which include funding options, program design and transaction types among others. In addition, it also includes various value parameters such as redemption thresholds, redemption options and earn rates. Many organizations are focusing on spending on loyalty programs owing to their offerings. The offerings include expansion of coverage to daily consumer spending, innovative rewards leading to an increase in scope for consumer response and retention followed by collaboration opportunities for enhanced services .Loyalty management software tools basically aims at building successful loyalty program for business and individual customers. Key enterprises are focusing on implementing these tools with an objective to maintain high customer satisfaction, by providing specialized loyalty programs which includes special auctions, lotteries, coupons or benefits through one platform.
Nowadays, there are three mainly types of Loyalty Management, including Customer Loyalty, Employee Retention and Channel Loyalty. And Customer Loyalty is the main type for Loyalty Management, and the Customer Loyalty reached a sales value of approximately 1330.99 M USD in 2017, with 66.76% of global sales volume.
Over the next five years, LPI(LP Information) projects that Loyalty Management will register a 17.5% CAGR in terms of revenue, reach US$ 5240 million by 2023, from US$ 1990 million in 2017.
This report presents a comprehensive overview, market shares and growth opportunities of Loyalty Management market by product type, application, key companies and key regions.
To calculate the market size, LP Information considers value generated from the sales of the following segments:
Segmentation by product type:
Segmentation by application:
Travel and Hospitality
Consumer Goods and Retail
We can also provide the customized separate regional or country-level reports, for the following regions:
Middle East and Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major players in the market. The key players covered in this report:
Alliance Data Systems Corporation
Maritz Holdings Inc.
Fidelity Information Services
Bond Brand Loyalty
ICF International, Inc.
Kobie Marketing, Inc.
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global Loyalty Management market size by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of Loyalty Management market by identifying its various subsegments.
Focuses on the key global Loyalty Management players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Loyalty Management with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the size of Loyalty Management submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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