The Transformation of Customer Loyalty: Foodservice Programmes Must Transcend Discounts and Foster Lasting Loyalty through Experiences

DUBLIN, Feb. 28, 2024 /PRNewswire/ — The “Transformation of Customer Loyalty: A Pan-Industry View” report has been added to  ResearchAndMarkets.com’s offering.

In a time of uncertainty, brands must ensure that the value proposition provided by their loyalty schemes is firmly aligned with customer needs, priorities and expectations, continuously refined and adapted to withstand disruption and changing market conditions. This report explores how loyalty programmes are evolving across key industries worldwide.

The global briefing offers an insight into the size and shape of the luxury goods industry, highlights buzz topics, emerging trends as well as pressing industry issues, their effects on luxury goods retailing in markets around the world and on the development of consumers’ shopping patterns. Forecasts illustrate how the market is set to change and criteria for success. In short, it identifies the opportunity zones within luxury goods industry

Key Findings

Lifestyle loyalty schemes

Creating lifestyle loyalty programmes has become an essential focus for brands across different industries by rewarding actions rather than purchases. They aim to become part of the everyday lives of their consumers, incentivising wellness and wellbeing behaviours, delivering utility as well as innovative but highly personalised benefits. By forming relevant partnerships and delivering more choices for members with the help of these schemes, brands are able to stand out from the crowd and remain relevant.

Elevating value proposition vital more than ever

As consumers become savvier, they seek to gain more added value from their regular purchases and from their membership participation. This is forcing brands to adapt and deliver wide-ranging rewards offerings, more prestigious membership status, enjoyable experiences, and personalised services.

Communities and co-creation in huge demand

Building a brand community as part of the loyalty programmes is imperative for deepening the customer engagement, supporting peer-to-peer interaction and social impact initiatives, creating more lasting relationships with members and ultimately accessing vital feedback and information about the brand’s customer base. Brand communities are the perfect platform for product and marketing co-creation with the business, which further entices more innovation as well as loyal and top-spending consumers.

Innovation and technology revive stale legacy structures

In a time of technological disruption and innovation, customer loyalty is changing. Companies are embracing new business models to expand the potential of loyalty schemes, ensure borderless reach and deliver new incentives. With digitalisation extending its reach, using mobile strategies to drive loyalty is essential, and in turn offers a direct connection to the customer.

Key Topics Covered:

Introduction

ScopeKey TakeawaysExploring customer loyaltyDrivers of customer loyaltyCapitalising on the power of mobile growthExperiences high on the agenda for loyalty programmes to help drive added valueGrocery retail brands: lead the way for global loyalty programmesLoyalty programmes more important than everDesigning loyalty programmes: key considerations for businessesThe core principles of effective loyalty programmes

Loyalty in beauty and personal care

Beauty loyalty programmes are most influential in colour cosmetics and among MillennialsFluctuations in subscription box demand and direct selling salesforce are major challengesBeautyCounter builds loyalty through ingredient safety positioning, “clean beauty” missionBubble builds loyalty through app frequented by Generation Z and co-creation approachBond over shared ethos, co-create with younger consumers, and build community in beauty

Loyalty in luxury goods

Elevating customer loyalty through value-driven rewards and exclusivity across luxuryLeveraging digital platforms for loyalty programmes across luxury is essentialBuilding emotional loyalty and nurturing brand advocates is pathway for future consumersYSL Beauty: Nurturing exclusivity with NFT loyalty approach to connect better with Gen ZLuxury department store Liberty London gives its loyalty members more bang for their buckFusing exclusivity, quality, heritage and storytelling to build a strong strategy in luxury loyalty

Loyalty in apparel and footwear

Loyalty in packaged food

Digital trends have the potential to reshape loyalty programmes in the food industryGeneral Mills opens path to data-driven loyalty programmesKraft Heinz’s NFT integration with Oscar Mayer Wiener WhistleEnhancing customer engagement through loyalty programmes in the evolving food industry

Loyalty in drinks

Supporting ubiquitous brands with targeted loyalty programmes, particularly in foodserviceCoke ON consumer loyalty app helps to kickstart vending growth in JapanDrinks brands invest in B2B digital loyalty programmes for traditional and independent retailersTim Hortons extends loyalty programme with new Tims credit card

Loyalty in Drinks

Drinks programmes to foster both consumer and retailer loyalty

Loyalty in consumer foodservice

Foodservice programmes must transcend discounts and foster lasting loyalty through experiencesBoba Guys’ reward system adds an element of surprise through mystery boxesTaco Bell empowers loyalty members to take part in the design of hot sauce slogans

Loyalty in Consumer Foodservice

Delivering value aligned with their consumers’ needs and wants

Loyalty in travel

Loyalty ecosystems target growing leisure travel segmentAccor uses subscriptions to increase loyalty programme participationANA Pocket offers lifestyle ecosystem rewardsFuture travel loyalty programmes will be lifestyle ecosystems

Loyalty in retail

Loyalty and personalisation, a match made in heavenDirect to consumer model makes it easier to achieve maximum personalisationThe Fresh Market launches Ultimate Loyalty Experience, exploring personalisationMarks & Spencer finds new heights by shining the light on SparksLoyalty nirvana is now the ultimate goal for consumers and retailers alike

Loyalty in nicotine

Loyalty in nicotine is largely a feature of emerging cigarette alternative categoriesEcigwizard Vape Rewards: Addressing price sensitivityBAT’s B-Lounge: Rewarding and educating uptake of an emerging categoryWhere viable loyalty programmes offer approaches to key industry challenges

Conclusion

Key TakeawaysCustomer Loyalty: How to winEvolution of customer loyalty

For more information about this report visit https://www.researchandmarkets.com/r/61i1l3

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