According to the publisher, the loyalty market in the region is expected to grow by 11.0% on an annual basis to reach US$52.05 billion in 2024.
In value terms, the loyalty market in the region has recorded a CAGR of 12.6% during 2019-2023. The loyalty market in the country region will continue to grow over the forecast period and is expected to record a CAGR of 9.6% during 2024-2028. The loyalty market in the region will increase from US$46.90 billion in 2023 to reach US$75.02 billion by 2028.
The loyalty program industry is poised for accelerated growth over the medium term in Asia Pacific region. From India to Australia and Japan, the adoption of loyalty program is growing at an accelerated pace and the trend is projected to continue further over the next three to four years. In Australia, loyalty programs have emerged as vital tool for business growth and success.
In India, too, new age startups are recording strong growth after revamping their loyalty programs to meet consumer demands. Over the medium term, the number of new loyalty program launches are expected to increase significantly in the Indian market. Overall, the publisher maintains a positive growth outlook for the loyalty programs industry in Asia Pacific region over the next three to four years.
This report provides a detailed data-centric analysis of the loyalty market opportunities and risks across a range of industry categories. With over 50 KPIs at the country level, this report provides a comprehensive understanding of loyalty market dynamics, market size and forecast, and market share statistics.
The research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view of emerging business and investment market opportunities.
2. Australia Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
3. China Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
4. India Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
5. Indonesia Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
6. Japan Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
7. Malaysia Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
8. South Korea Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
9. Philippines Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
10. Singapore Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
11. Taiwan Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
12. Thailand Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
13. Vietnam Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
In value terms, the loyalty market in the region has recorded a CAGR of 12.6% during 2019-2023. The loyalty market in the country region will continue to grow over the forecast period and is expected to record a CAGR of 9.6% during 2024-2028. The loyalty market in the region will increase from US$46.90 billion in 2023 to reach US$75.02 billion by 2028.
The loyalty program industry is poised for accelerated growth over the medium term in Asia Pacific region. From India to Australia and Japan, the adoption of loyalty program is growing at an accelerated pace and the trend is projected to continue further over the next three to four years. In Australia, loyalty programs have emerged as vital tool for business growth and success.
In India, too, new age startups are recording strong growth after revamping their loyalty programs to meet consumer demands. Over the medium term, the number of new loyalty program launches are expected to increase significantly in the Indian market. Overall, the publisher maintains a positive growth outlook for the loyalty programs industry in Asia Pacific region over the next three to four years.
Loyalty programs are becoming increasingly important for the success of Australian retailers
In Australia, businesses are leveraging data analytics to learn more about their customers and provide them with personalized offers. Loyalty programs have emerged as a vital tool for the success of retail businesses.- Myer has strengthened its MYER One member reward program by teaming up with American Express, Commonwealth Bank, and Virgin's Velocity program. Out of the 7.3 million MYER One members, 4.2 million were actively engaged in the program in the 2022/23 period. Additionally, almost 75% of all purchases made at Myer during this time were linked to a MYER One account.
Firms are tweaking their loyalty programs to boost adoption and increase market share in India
The food delivery sector is growing at a rapid rate in India and the market is poised to grow even further over the medium term. To tap into the fast-growing sector, firms are adopting different strategies to increase their market share.- Swiggy, for instance, launched a cheaper version of its existing loyalty program to boost adoption among consumers. The new and affordable loyalty program, launched in October 2023, is already showing its effect with the firm garnering higher market share against rival Zomato. According to a report from IIFL Securities, Swiggy gained marginal market share compared to Zomato in 1HCY23, potentially due to the aggressive pricing of its revamped loyalty program and higher promotions.
- The new loyalty program, named Swiggy One Lite, has been made available for INR 99 for three months. Under the membership, Swiggy is offering 10 free food and Instamart deliveries. Furthermore, the One Lite program also offers a 30% discount at more than 20,000 restaurants in India. The report from IIFL Securities also revealed that Swiggy managed to report a growth of 17% in H1 2023, compared to the 13% growth recorded by Zomato.
Beauty retailers are offering higher rewards to inspire Filipinos to make conscious choices
Amid the growing popularity of loyalty programs in the Philippines, health and beauty retailers are seeking to leverage the tool to inspire consumer purchases, while targeting higher sales and revenue.- Watsons Club, the largest health and beauty loyalty program with over 13 million members, launched a Live Well Get Rewarded campaign in September 2023. The campaign, notably, aims to inspire members to make conscious choices regarding their wellness, and in turn, reward them. Under the program, members will receive 5% discounts on vitamins and supplements and 10% off on Watsons brand products. Several other rewards have been announced under the new campaign by the retailer in the Philippines.
This report provides a detailed data-centric analysis of the loyalty market opportunities and risks across a range of industry categories. With over 50 KPIs at the country level, this report provides a comprehensive understanding of loyalty market dynamics, market size and forecast, and market share statistics.
The research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view of emerging business and investment market opportunities.
This title is a bundled offering provides detailed 13 reports, covering regional insights along with data centric analysis at regional and country level:
1. Asia Pacific Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)2. Australia Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
3. China Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
4. India Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
5. Indonesia Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
6. Japan Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
7. Malaysia Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
8. South Korea Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
9. Philippines Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
10. Singapore Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
11. Taiwan Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
12. Thailand Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
13. Vietnam Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)
Scope
Country reports in this bundled offering provide in-depth analysis of loyalty programs. Below is a summary of key market segments:Retail Sector Spend Value Trend Analysis
- Ecommerce Spend
- POS Spend
Loyalty Spend Market Size and Future Growth Dynamics by Key Performance Indicators
Value Accumulated and Value Redemption Rate of Loyalty programs in
Loyalty Spend Market Size and Future Growth Dynamics by Functional Domains
- Loyalty Schemes
- Loyalty Platforms
Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Program Type
- Points programs
- Tier-based programs
- Mission-driven programs
- Spend-based programs
- Gaming programs
- Free perks programs
- Subscription programs
- Community programs
- Refer a friend program
- Paid programs
- Cashback programs
Loyalty Spend Market Size and Future Growth Dynamics by Channel
- In-Store
- Online
- Mobile
Loyalty Schemes Spend Market Size and Future Growth Dynamics by Business Model
- Seller Driven
- Payment Instrument Driven
- Others
Loyalty Spend Market Size and Future Growth Dynamics by Key Sectors
- Retail
- Financial Services
- Healthcare & Wellness
- Restaurants & Food Delivery
- Travel & Hospitality (Cabs, Hotels, Airlines)
- Telecoms
- Media & Entertainment
- Others
Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by online
- Retail
- Financial Services
- Healthcare & Wellness
- Restaurants & Food Delivery
- Travel & Hospitality (Cabs, Hotels, Airlines)
- Telecoms
- Media & Entertainment
- Others
Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by In-Store
- Retail
- Financial Services
- Healthcare & Wellness
- Restaurants & Food Delivery
- Travel & Hospitality (Cabs, Hotels, Airlines)
- Telecoms
- Media & Entertainment
- Others
Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by Mobile App
- Retail
- Financial Services
- Healthcare & Wellness
- Restaurants & Food Delivery
- Travel & Hospitality (Cabs, Hotels, Airlines)
- Telecoms
- Media & Entertainment
- Others
Loyalty Spend Market Size and Future Growth Dynamics by Retail
- Diversified Retailers
- Department Stores
- Specialty Stores
- Clothing, Footwear & Accessories
- Toy & Hobby Shops
- Supermarket and Convenience Store
- Home Merchandise
- Other
Loyalty Spend Market Size and Future Growth Dynamics by Accessibility
- Card Based Access
- Digital Access
Loyalty Spend Market Size and Future Growth Dynamics by Consumer Type
- B2C Consumers
- B2B Consumers
Loyalty Schemes Spend Market Size and Future Growth Dynamics by Membership Type
- Free
- Free + Premium
- Premium
Loyalty Platform Spend Market Size and Future Growth Dynamics by Software Use Case
- Analytics and AI Driven
- Management Platform
Loyalty Platform Spend Market Size and Future Growth Dynamics by Vendor/Solution Partner
- In House
- Third Party Vendor
Loyalty Platform Spend Market Size and Future Growth Dynamics by Deployment
- Cloud
- On-Premise
Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Platforms
- Software
- Services
Loyalty Spend Market Size and Future Growth Dynamics by Software Use Case Platforms
- Custom Built Platform
- Off the Shelf Platform
Loyalty Spend Market Size and Forecast by Consumer Demographics & Behaviour
- By Age Group
- By Income Level
- By Gender
Reasons to buy
- Gain insights into the loyalty spend market: The report provides a comprehensive overview of the loyalty spend market, including market size, growth drivers, and trends. This information can help businesses to make informed decisions about their loyalty program strategies.
- Benchmark your business against competitors: The report provides a competitive analysis of the loyalty spend market, which can help businesses to identify their strengths and weaknesses relative to their competitors. This information can help businesses to improve their loyalty program strategies and gain a competitive advantage.
- Stay up-to-date on the latest trends in the loyalty spend market: The report provides an overview of the latest trends in the loyalty spend market, such as the growing popularity of mobile-based loyalty programs and the increasing awareness of the benefits of loyalty programs among consumers. This information can help businesses to stay ahead of the competition and improve their loyalty program strategies.
- Make informed decisions about your loyalty program: The report provides a comprehensive overview of the factors to consider when developing a loyalty program, such as the target audience, the rewards and benefits, and the marketing and communication strategy. This information can help businesses to develop a loyalty program that is effective and successful.
Table of Contents
This title is a bundled offering provides detailed 13 reports, covering regional insights along with data centric analysis at regional and country level:
1 About this Report
2 Retail Sector Market Size Analysis
3 Loyalty Spend Market Size and Future Growth Dynamics
4 Loyalty Schemes Spend Market Size and Future Growth Dynamics by Loyalty Program Type
5 Loyalty Schemes Market Size and Future Growth Dynamics by Channel
6 Loyalty Schemes Spend Market Size and Future Growth Dynamics by Business Model
7 Loyalty Schemes Spend Market Size and Future Growth Dynamics by Key Sectors
8 Loyalty Schemes Spend in Key Sectors by Online Channel, 2019-2028
9 In-Store Loyalty Schemes Spend in Key Sectors, 2019-2028
10 Mobile App Loyalty Schemes Spend in Key Sectors, 2019-2028
11 Retail Sector Loyalty Schemes Spend Market Size and Future Growth Dynamics
12 Loyalty Schemes Spend Market Size and Future Growth Dynamics by Accessibility
13 Loyalty Schemes Spend Market Size and Future Growth Dynamics by Consumer Type
14 Loyalty Schemes Spend Market Size and Future Growth Dynamics by Membership Type
15 Loyalty Platform Spend Market Size and Future Growth Dynamics by Software Use case
16 Loyalty Platform Spend Market Size and Future Growth Dynamics by Vendor/Solution Partner
17 Loyalty Platform Spend Market Size and Future Growth Dynamics by Deployment
18 Loyalty Spend Market Size and Future Growth Dynamics by Software vs. Services
19 Loyalty Spend Market Size and Future Growth Dynamics by Custom vs. Off the Shelf Software Platforms
20 Loyalty Spend Market Size and Forecast by Consumer Demographics & Behaviour
21 Further Reading
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 1638 |
Published | February 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 52.05 Billion |
Forecasted Market Value ( USD | $ 75.02 Billion |
Compound Annual Growth Rate | 9.6% |
Regions Covered | Asia Pacific |