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Subject: MRR

Q1 2022 Singapore Loyalty Programs Industry Databook - BNPL Firms are Launching Loyalty Programs for Their Users


DUBLIN, May 24, 2022 /PRNewswire/ -- The "Singapore 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.

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According to the Q1 2022 Global Loyalty Programs Survey, Loyalty Programs Market in Singapore is expected to grow by 12.4% on annual basis to reach US$ 700.1 million in 2022. In value terms, the Loyalty Programs Market in Singapore has recorded a CAGR of 13.1% during 2017-2021.

The Loyalty Programs Market in Singapore will continue to grow over the forecast period and is expected to record a CAGR of 12.0% during 2022-2026. Loyalty Programs Market in the country will increase from US$ 622.7 million in 2021 to reach US$ 1101.5 million by 2026.

In Singapore, consumers are always on the lookout for ways to add more value to their purchases. With the ever-changing consumer behavior, Singaporeans not only expect to be instantly rewarded for shopping at their favorite brands and use the rewards immediately at the point of sale, but they also expect optimal engagement with brands. As consumers continue to seek personalization, loyalty programs have started to become a key growth factor for businesses in Singapore.

According to the Q1 2022 Global Loyalty and Rewards Market Survey, more than 80% of the consumers stated that they would want to shop from a brand that has a loyalty program. Moreover, around 75% of the consumers stated that being part of the loyalty program encourages them to spend more with the retailers in Singapore. Based on these insights, brands and retailers need to prioritize giving their customers a personalized loyalty program that will meet the demand of the consumers in the country.

As consumers in increasing number seek out ways to add more value to their purchases, loyalty programs are helping retailers in Singapore to drive more consumer visits and heavier purchasing, especially in a saturated retail landscape. Over the next two to three years, the publisher expects more brands and businesses across different industry verticals to launch personalized loyalty programs for consumers in the country.

The growing loyalty and rewards programs landscape in Singapore has also given rise to startups that are launching innovative products to gain a market share in the industry. Notably, to compete with big players and drive their growth, startups in Singapore are also raising funding rounds from global and regional private equity and venture capital firms. As these startups continue to innovate in the industry, the publisher expects the competition to further intensify from the short to medium-term perspective, which will subsequently.

Mergers and acquisitions are rising in the Singaporean loyalty and rewards programs market

In the midst of the growing loyalty market industry in Singapore, global Fintech firms are looking to expand their footprint in Singapore and in other Southeast Asian markets. Consequently, firms are entering into mergers and acquisition deals to acquire Singapore-based loyalty and rewards programs providers. For instance,

Startups are raising funds to disrupt the loyalty industry in Singapore

Globally, there are billions of dollars in unused air miles. Consumers either find redeeming their loyalty points inconvenient, or they simply have no use for the promotions offered. To change this and to let consumers use their loyalty points more effectively, startups are innovating with their services and are also raising funding rounds to disrupt the loyalty industry in Singapore and globally. For instance,

As these startups continue to innovate and expand their market share in the global loyalty program industry, the publisher expects these firms to raise more funding round from the short to medium-term perspective. This will further intensify competition and innovation in the sector, thereby driving the growth of the overall industry over the next four to eight quarters.

Buy now, pay later firms are launching loyalty programs for their users in Singapore

Over the last two to three years, the popularity of innovative payment methods such as buy now pay later (BNPL) has surged significantly globally. Notably, the trends are similar in Singapore, where an increasing number of consumers, especially the young generation, are flocking toward the use of BNPL payment solutions. With the growing competition among BNPL providers, firms are now resorting to the use of loyalty programs to make their service more attractive to consumers in Singapore. For instance,

Reasons to buy

Key Topics Covered:

1 About this Report

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

3 Singapore Loyalty Spend Market Size and Future Growth Dynamics by Functional Domains, 2017-2026
3.1 Singapore Loyalty Spend Share by Functional Domains, 2017-2026
3.2 Singapore Loyalty Spend Value by Loyalty Schemes, 2017-2026
3.3 Singapore Loyalty Spend Value by Loyalty Platforms, 2017-2026

4 Singapore Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Program Type, 2017-2026
4.1 Singapore Loyalty Spend Share by Loyalty Program Type, 2021 Vs 2026
4.2 Singapore Loyalty Spend Value by Point-based Loyalty Program, 2017-2026
4.3 Singapore Loyalty Spend Value by Tiered Loyalty Program, 2017-2026
4.4 Singapore Loyalty Spend Value by Subscription Loyalty Program, 2017-2026
4.5 Singapore Loyalty Spend Value by Perks Loyalty Program, 2017-2026
4.6 Singapore Loyalty Spend Value by Coalition Loyalty Program, 2017-2026
4.7 Singapore Loyalty Spend Value by Hybrid Loyalty Program, 2017-2026

5 Singapore Loyalty Spend Market Size and Future Growth Dynamics by Channel, 2017-2026
5.1 Singapore Loyalty Spend Share by Channel, 2017-2026
5.2 Singapore Loyalty Spend Value by In-Store, 2017-2026
5.3 Singapore Loyalty Spend Value by Online, 2017-2026
5.4 Singapore Loyalty Spend Value by Mobile, 2017-2026

6 Singapore Loyalty Spend Market Size and Future Growth Dynamics by Key Sectors, 2017-2026
6.1 Singapore Loyalty Spend Share by Key Sectors, 2021 Vs 2026
6.2 Singapore Loyalty Spend Value in Retail, 2017-2026
6.3 Singapore Loyalty Spend Value in Financial Services, 2017-2026
6.4 Singapore Loyalty Spend Value in Healthcare & Wellness, 2017-2026
6.5 Singapore Loyalty Spend Value in Restaurants & Food Delivery, 2017-2026
6.6 Singapore Loyalty Spend Value in Travel & Hospitality (Cabs, Hotels, Airlines), 2017-2026
6.7 Singapore Loyalty Spend Value in Telecoms, 2017-2026
6.8 Singapore Loyalty Spend Value in Media & Entertainment, 2017-2026
6.9 Singapore Loyalty Spend Value in Others, 2017-2026

7 Singapore Loyalty Spend Market Size and Future Growth Dynamics by Retail, 2017-2026
7.1 Singapore Loyalty Spend Share by Retail Segments, 2021 Vs 2026
7.2 Singapore Loyalty Spend Value by Diversified Retailers, 2017-2026
7.3 Singapore Loyalty Spend Value by Department Stores, 2017-2026
7.4 Singapore Loyalty Spend Value by Specialty Stores, 2017-2026
7.5 Singapore Loyalty Spend Value by Clothing, Footwear & Accessories, 2017-2026
7.6 Singapore Loyalty Spend Value by Toy & Hobby Shops, 2017-2026
7.7 Singapore Loyalty Spend Value by Supermarket and Convenience Store, 2017-2026
7.8 Singapore Loyalty Spend Value by Home Merchandise, 2017-2026
7.9 Singapore Loyalty Spend Value by Other, 2017-2026

8 Singapore Loyalty Spend Market Size and Future Growth Dynamics by Accessibility, 2017-2026
8.1 Singapore Loyalty Spend Share by Accessibility, 2021 Vs 2026
8.2 Singapore Loyalty Spend Value by Card Based Access, 2017-2026
8.3 Singapore Loyalty Spend Value by Digital Access, 2017-2026

9 Singapore Loyalty Spend Market Size and Future Growth Dynamics by Consumer Type, 2017-2026
9.1 Singapore Loyalty Spend Share by Consumer Type, 2021 Vs 2026
9.2 Singapore Loyalty Spend Value by B2C Consumers, 2017-2026
9.3 Singapore Loyalty Spend Value by B2B Consumers, 2017-2026

10 Singapore Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Platforms, 2017-2026
10.1 Singapore Loyalty Spend Share by Loyalty Platform, 2021 Vs 2026
10.2 Singapore Loyalty Spend Value by Software, 2017-2026
10.3 Singapore Loyalty Spend Value by Services, 2017-2026

11 Singapore Loyalty Spend Market Size and Future Growth Dynamics by Software Platforms, 2017-2026
11.1 Singapore Loyalty Spend Share by Software Platforms, 2021 Vs 2026
11.2 Singapore Loyalty Spend Value by Custom Built Platform, 2017-2026
11.3 Singapore Loyalty Spend Value by Off the Shelf Platform, 2017-2026

12 Singapore Loyalty Spend Market Size and Forecast by Consumer Demographics & Behavior, 2021
12.1 Singapore Loyalty Spend Share by Age Group, 2021
12.2 Singapore Loyalty Spend Share by Income Level, 2021
12.3 Singapore Loyalty Spend Share by Gender, 2021

13 Further Reading

For more information about this report visit https://www.researchandmarkets.com/r/1ldy8q

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