US Retailer Loyalty Programs Market Research Report- July 2016

Albany, New York, August 5, 2016: Market Research HUB has announced the addition of the "Retailer Loyalty Programs - US - July 2016" report to their offering.

Consumers have more loyalty accounts than ever before, which means they’re also starting to feel pressure from an overabundance of choice. Retailers are therefore challenged to streamline the shopping and loyalty experience without completely disrupting the core experiences that they’ve built their brands on.

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Table of Content:

Executive Summary

The issues
Average number of loyalty accounts tops 10 memberships per consumer
Figure 1: Loyalty program participation (mean), by age, March 2016
Loyalty programs still offering irrelevant rewards
Figure 2: Loyalty program frustrations, March 2016
The relationship between the loyalty program and the brand
Figure 3: Attitudes toward retailer loyalty programs, by age, March 2016
The opportunities
Leverage the connection between loyalty program and brand
Figure 4: Attitudes toward retailer loyalty programs, March 2016
Personalization in high demand
Figure 5: Top five desired loyalty program features, March 2016
Increase the sophistication of targeted offers
Figure 6: Desired loyalty program features, by type of living area, March 2016
What it means

The Market – What you need to know

Mobile payment will drive branded apps
Average number of children in family households declining
Market Factors
Mobile payment will help to drive seamless loyalty interactions
Fewer multi-child households could dampen loyalty revenue
Figure 7: Number of children per family household (mean), 2000-15
Key Players – What You Need to Know
Analytics increasingly drive loyalty
Retailers redesigning for Plenti
Opportunity to engage Baby Boomers in loyalty programs
Loyalty programs shift to become digital services
What’s Working?
Brands integrate analytics into workplace culture
Plenti drives value for consumers, retailers
Figure 8: Wellness+ with Plenti loyalty email marketing example, June 2016

What’s Struggling?
-Baby Boomers: Underserved in loyalty marketing
-Lack of brand integration causes sales to falter

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What’s Next?
-The line between loyalty program and digital services continues to blur
-Greater focus on analytics to lead to more sophisticated personalization
-Synchrony Financial boosts user control and experience for loyalty interactions

Retailer Loyalty Program Participation
Consumers now participate in more than 10 loyalty programs on average
Figure 14: Loyalty program participation (mean), March 2016
Differentiation a greater challenge in targeting younger consumers
Figure 15: Loyalty program participation (mean), by age, March 2016
Demographics with lower overall loyalty participation present opportunities for individual sectors
Figure 16: Loyalty program participation (mean), by age and household income, March 2016
Consumers discuss how they use loyalty programs

Loyalty Programs’ Impact on Shopping Behavior
How loyalty programs influence shopping behavior
Figure 17: Retail loyalty programs’ impact (summary), March 2016
Figure 18: Retail loyalty programs’ impact on shopping, March 2016
Loyalty fatigue increasing among 25-34s
Figure 19: Consumers’ desire for loyalty account management, April 2015-March 2016
Heightened engagement among multi-child households
Figure 20: Loyalty programs’ impact on shopping, March 2016
Brand loyalty impacts engagement among Blacks
Figure 21: Loyalty programs’ impact, by race, March 2016

Attitudes toward Loyalty Programs
-Irrelevant rewards remain a top consumer frustration
-Older consumers underserved by loyalty programs
-Asian consumers feel it takes too long to earn rewards

Participation in Select Retail Loyalty Programs
-More than 40% of loyalty program participants engaged with Amazon Prime
-Lack of familiarity presents the biggest barrier for participation
-Plenti: Strong traction among women 35-54

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Features that would Encourage Loyalty Program Participation
-Personalization: The leading driver of loyalty program engagement
-Social good and social media top of mind for urban loyalty consumers
-Younger consumers opt for mobile interaction
-Consumers talk about their ideal loyalty programs

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This release was published on openPR.