Europe Loyalty Programs Market Intelligence and Future Growth Report 2024-2028: French Supermarkets are Launching Digital Loyalty Cards to Help Consumers Beat High Food Inflation
DUBLIN, March 12, 2024 /PRNewswire/ — The “Europe 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 2024 Update” report has been added to ResearchAndMarkets.com’s offering.
The European loyalty market is expected to grow by 10.7% on an annual basis to reach US$46.79 billion in 2024.
In value terms, the loyalty market in the region has recorded a CAGR of 12.0% 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 9.4% during 2024-2028. The loyalty market in the region will increase from US$42.27 billion in 2023 to reach US$66.91 billion by 2028.
The adoption of loyalty programs has increased at a significant rate across Europe in 2023, and the trend is projected to continue further over the medium term. As a result, the market is expected to record steady growth over the next three to four years. Food inflation, in the United Kingdom, will continue to drive more shoppers to adopt supermarket loyalty programs.
In Germany, too, supermarkets are leveraging loyalty programs to accelerate their business growth. Retailers, across Europe, are also stepping up their rewards to help shoppers navigate inflation. The trend is projected to continue further in 2024. Overall, a positive growth outlook for the European loyalty program industry is forecast over the next three to four years.
French supermarkets are launching digital loyalty cards to help consumers beat high food inflation
Food inflation has reached multi-year highs across many European nations, and France is no different. Consumers, throughout 2023, have been reeling under the impact of higher inflation and food prices. Consequently, to drive consumer spending, supermarkets have been leveraging loyalty programs.
Netto, the France-based supermarket chain, announced the launch of a digital loyalty card in September 2023. The digital loyalty card provides access to offers and electronic vouchers. The launch is part of the firm’s strategy to lessen the impact of higher food prices faced by consumers.
The strategy has been adopted by many of the leading supermarket chains across the region. Tesco and Sainsbury’s have made changes to their loyalty program to better meet the demands of their consumers. These programs have also resulted in higher sales numbers for firms like Tesco. Nearly, 21 million households have a Tesco Clubcard in the United Kingdom. For Tesco, these 21 million households are responsible for 80% of the sales. Tesco holds a significant 27.4% of the market share. More than 8,000 products are offered under its Clubcard Prices scheme. Sainsbury’s, on the other hand, offers 6,000 products under its loyalty scheme.
Firms are looking to integrate loyalty programs and NFTs to create innovative experiences for members
Many leading corporations have integrated NFTs (non-fungible tokens) and loyalty over the last two years. The trend is also picking up pace in the German market, with businesses seeking to leverage NFTs and loyalty programs to drive innovative experiences for customers.
Lufthansa, the German airline carrier, entered into a strategic partnership with Polygon in September 2023. As part of the collaboration, the airline aims to launch an NFT-powered loyalty program, which will gamify the flight experience for flyers. Notably, the airline carrier will enable flyers to collect NFTs, which can be utilized for rewards like accumulating miles and accessing the lounge. Lufthansa has partnered with Polygon Blockchain for its speed and low fees.
From the short to medium-term perspective, more firms in the German market are expected to power their loyalty programs using NFTs and other Web3 applications. This will drive innovation in the sector, which is expected to grow at a steady pace over the next three to four years.
New loyalty program launches to support industry growth over the medium term in the United Kingdom
Amid higher adoption and the fact that more and more consumers are seeking to leverage loyalty programs to lessen the impact of worsening economic conditions, the number of new program launches has been rising.
JD Sports, the sports retailer, announced the launch of a loyalty app in the United Kingdom in October 2023. The program aims to deliver rewards to shoppers on purchases made across all of its stores in England, Wales, and Scotland. After the nationwide rollout in October 2023, the retailer is now planning to launch the loyalty program in more European nations in 2024.
In the United Kingdom, the trend of new loyalty program launches is projected to continue in 2024. Domino’s, for instance, is planning to launch a loyalty scheme in the United Kingdom in 2024. In the United States, Domino’s has been able to increase the purchase frequency by 1.7 times in the first year of the program launch. The QSR aims to replicate the success in the United Kingdom too. These new loyalty scheme launches will further support the growth of the industry over the short to medium-term perspective.
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.
Report 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 SpendPOS 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 SchemesLoyalty Platforms
Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Program Type
Points programsTier-based programsMission-driven programsSpend-based programsGaming programsFree perks programsSubscription programsCommunity programsRefer a friend programPaid programsCashback programs
Loyalty Spend Market Size and Future Growth Dynamics by Channel
In-StoreOnlineMobile
Loyalty Schemes Spend Market Size and Future Growth Dynamics by Business Model
Seller DrivenPayment Instrument DrivenOthers
Loyalty Spend Market Size and Future Growth Dynamics by Key Sectors
RetailFinancial ServicesHealthcare & WellnessRestaurants & Food DeliveryTravel & Hospitality (Cabs, Hotels, Airlines)TelecomsMedia & EntertainmentOthers
Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by online
RetailFinancial ServicesHealthcare & WellnessRestaurants & Food DeliveryTravel & Hospitality (Cabs, Hotels, Airlines)TelecomsMedia & EntertainmentOthers
Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by In-Store
RetailFinancial ServicesHealthcare & WellnessRestaurants & Food DeliveryTravel & Hospitality (Cabs, Hotels, Airlines)TelecomsMedia & EntertainmentOthers
Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by Mobile App
RetailFinancial ServicesHealthcare & WellnessRestaurants & Food DeliveryTravel & Hospitality (Cabs, Hotels, Airlines)TelecomsMedia & EntertainmentOthers
Loyalty Spend Market Size and Future Growth Dynamics by Retail
Diversified RetailersDepartment StoresSpecialty StoresClothing, Footwear & AccessoriesToy & Hobby ShopsSupermarket and Convenience StoreHome MerchandiseOther
Loyalty Spend Market Size and Future Growth Dynamics by Accessibility
Card Based AccessDigital Access
Loyalty Spend Market Size and Future Growth Dynamics by Consumer Type
B2C ConsumersB2B Consumers
Loyalty Schemes Spend Market Size and Future Growth Dynamics by Membership Type
FreeFree + PremiumPremium
Loyalty Platform Spend Market Size and Future Growth Dynamics by Software Use Case
Analytics and AI DrivenManagement Platform
Loyalty Platform Spend Market Size and Future Growth Dynamics by Vendor/Solution Partner
In HouseThird Party Vendor
Loyalty Platform Spend Market Size and Future Growth Dynamics by Deployment
CloudOn-Premise
Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Platforms
SoftwareServices
Loyalty Spend Market Size and Future Growth Dynamics by Software Use Case Platforms
Custom Built PlatformOff the Shelf Platform
Loyalty Spend Market Size and Forecast by Consumer Demographics & Behaviour
By Age GroupBy Income LevelBy Gender
For more information about this report visit https://www.researchandmarkets.com/r/qnzdo0
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