Le Lézard
Classified in: Science and technology, Covid-19 virus

Asia Pacific Loyalty Programs Market Intelligence and Future Growth Dynamics Databook, 2017-2021 & 2022-2026 - ResearchAndMarkets.com


The "Asia Pacific Loyalty Programs Market Intelligence and Future Growth Dynamics Databook - 50+ KPIs on Loyalty Programs Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer Demographics - Q1 2022 Update" report has been added to ResearchAndMarkets.com's offering.

The Loyalty Programs Market in Asia Pacific is expected to grow by 12.9% on annual basis to reach US$ 48138.9 million in 2022.

In value terms, the Loyalty Programs Market in Asia Pacific has recorded a CAGR of 13.3% during 2017-2021. The Loyalty Programs Market in Asia Pacific will continue to grow over the forecast period and is expected to record a CAGR of 12.5% during 2022-2026. Loyalty Programs Market in the country will increase from US$ 42622.8 million in 2021 to reach US$ 76982.1 million by 2026.

Loyalty and reward programs are gaining market share in the Asia Pacific region. A large population, rapid digitalization, and consumers' inclination towards rewards programs primarily supported the strong market growth in this region.

In the last two to three years, key economies such as India, China, Indonesia, and Singapore witnessed substantial demand for loyalty and rewards programs. Moreover, rising fintech start-ups are also expanding their market share through innovative product launches in this category. Consequently, the publisher expects the market to record strong growth in 2022.

In the last two to three years, the e-commerce market experienced rapid growth in China, and along with the growth of the online market, the loyalty and rewards programs industry also surged significantly in the country. Notably, e-commerce platforms across different product categories started offering loyalty programs to gain increasing market share and revenue. These programs provided good results to e-commerce players when compared to western standards.

As the trend in online shopping continued to gain momentum during the last decade, the adoption of loyalty and rewards programs also gained widespread popularity in the country. This trend is expected to continue as global and local brands continue to seek loyalty and rewards programs as a differentiation factor in their strategy further.

Quick-service restaurants are launching green rewards programs to expand their market share in China

To promote a more sustainable lifestyle and attract consumers who are driven by eco-friendly brands, quick-service restaurants are launching green rewards programs that incentivize consumer behaviours.

In India, loyalty and reward programs have been used as strategies by brands and organizations, especially in the hospitality, tourism, aviation, and retail sectors. Presently, with the global economic slowdown, businesses, in order to retain their customers and ensure profit generation, have adopted customer relationship management techniques with a more aggressive approach to sustain profitable long-term relationships. Therefore, loyalty programs are gaining popularity due to their ability to establish relationships with customers, drive product usage, repeat sales, and, most significantly, customer retention in India.

Credit card providers are partnering with grocery stores to launch loyalty programs

With the shift in lifestyle preferences and increasing disposable income, consumers are looking for premium products and experiences. Therefore, premium cards are being launched, signifying a significant share in overall spending, which is an indication of consumers' increasing affinity toward the premium lifestyle.

The publisher expects that since India's premium consumer segment is showing strong potential for growth, the exclusive benefits for the SBI card loyal customers are likely to be retained by the company over the longer run.

With the global shakeups due to Covid-19, many businesses had to embrace different strategies to retain their customers and expand their market share in Indonesia. Moreover, According to the Q1 2022 Global Loyalty and Rewards Market Survey, around 60% of these businesses invested substantially in their digital transformation and customer retention strategies in Indonesia. Consequently, loyalty and programs became one of the most used techniques during this period. Additionally, loyalty programs also went through a digital transformation over the last two years, just like the businesses.

Indonesian B2B rewards and loyalty providers are attracting investments

With the businesses seeing all-time lows, companies are hyper-focused on loyalty programs to capture new customers and retain the existing customers. Therefore, loyalty and CRM management companies are attracting funds in the country.

With the loyalty programs helping keep customers engaged and turning positive ROI for companies, the publisher expects these B2B loyalty companies to attract more investments over the next four to eight quarters in the country.

Scope

Country reports in this bundled offering provide in-depth analysis of social commerce

Loyalty Spend Market Size and Future Growth Dynamics by Key Performance Indicators, 2017-2026

Loyalty Spend Market Size and Future Growth Dynamics by Functional Domains, 2017-2026

Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Program Type, 2017-2026

Loyalty Spend Market Size and Future Growth Dynamics by Channel, 2017-2026

Loyalty Spend Market Size and Future Growth Dynamics by Key Sectors, 2017-2026

Loyalty Spend Market Size and Future Growth Dynamics by Retail, 2017-2026

Loyalty Spend Market Size and Future Growth Dynamics by Accessibility, 2017-2026

Loyalty Spend Market Size and Future Growth Dynamics by Consumer Type, 2017-2026

Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Platforms, 2017-2026

Loyalty Spend Market Size and Future Growth Dynamics by Software Platforms, 2017-2026

For more information about this report visit https://www.researchandmarkets.com/r/rmyy4i


These press releases may also interest you

at 05:00
The "Immunoassay Markets. Strategies and Trends. Forecasts by Application, Technology, Product, User and by Country. With Executive Guides, Customized Forecasting and Analysis. 2023 to 2027" report has been added to ResearchAndMarkets.com's offering....

at 00:25
Shanghai Junshi Biosciences Co., Ltd ("Junshi Biosciences," HKEX: 1877; SSE: 688180), a leading innovation-driven biopharmaceutical company dedicated to the discovery, development, and commercialization of novel therapies, announced its financial...

28 mar 2024
The "Global Clinical In Vitro Diagnostic Medical Laboratory Services Market: Strategy & Trends with Volume & Price Forecasts by Chemistry, Hematology, Microbiology, Pathology, Covid-19, and Molecular Dx by Country. Updated with Impact of COVID-19"...

28 mar 2024
Discovery Silver Corp. ("Discovery" or the "Company") today announced financial results for the three and twelve months ended December 31, 2023 ("Q4 2023" and "2023", respectively). The Company also provided a summary of key events since the...

28 mar 2024
The "Molecular Diagnostics at the Point of Care. By Application, Technology, Place, Product and by Country. With Executive Guides and Customization 2023 - 2027 " report has been added to  ResearchAndMarkets.com's offering. Infectious disease Dx is...

28 mar 2024
The "Whole Genome and Exome Sequencing Markets by Application, Organism and Product with Executive and Consultant Guides. Includes Direct to Consumer Analysis. 2023 to 2027" report has been added to  ResearchAndMarkets.com's offering. Will all...



News published on and distributed by: