Loyalty and Customer Engagement 2022 Update

We are pleased to present our views on the Loyalty and Customer Engagement landscape, doing so with the aim of helping increase transparency and communication between the companies themselves, as well as financial and strategic investors

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Intensifying competition coupled with rising customer acquisition costs is pushing entities across the industries to adopt a customer-centric approach by launching various loyalty and customer engagement programs. Such programs are aimed at increasing customer retention, cross-selling and customer penetration. An effective loyalty management strategy has the potential to translate into enhanced customer loyalty leading to higher revenue and profitability for the companies

 Our Loyalty and customer engagement report identifies client retention and building sustainable customer relationships as key success factors for companies looking to disrupt the space 

Further, the report highlights below key trends for the sectors:

  • The global loyalty management market is estimated to reach $18.2bn in 2026 from $8.6bn in 2021
  • Rising preference for personalized solutions by consumers
  • Growing traction of cloud-based deployment of loyalty management programs
  • Increased application of big data and ML in loyalty management programs
  • Loyalty program solutions embrace gamification to run campaigns and engage millennials and boomers
  • The M&A activity gathered pace strongly during 2021, with the number of deals increasing ~2.2x as compared to the previous year