PUNE, Maharashtra, Oct. 03, 2019 (GLOBE NEWSWIRE) -- Another business knowledge Report released by Data Bridge Market Research with title "Global Loyalty Management Market – Industry Trends and Forecast to 2025 Geography, Solution (Customer Loyalty, Employee Retention, Channel Loyalty), Deployment Type (On-Premises, On-Demand), Organization Size (SMEs, Large Enterprises), Vertical (BFSI, Travel & Hospitality, Retail & Consumer Goods, IT & Telecommunication, Media & Entertainment, Healthcare & Life Sciences, Manufacturing)" has capacity to become the largest market worldwide as it has remained assuming a momentous job in building up dynamic effects on the general economy.
Global Loyalty Management Market is expected to reach USD 7,650.48 million by 2025 and progressing at a significant CAGR in the forecast period 2018 to 2025. The new market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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Loyalty management is specially designed to help the business so that they can meet their organization goals. This will help the company to manage their day-to-day management activities and maintain customer’s data and information. They usually use gift coupons, gift cards and other incentives so that they can encourage their customer to buy different products. This also helps the business to create reports and analyze their behavior. Loyalty programs are very helpful for the business as it helps them to increase their sales, increase business and also strengthen the customer and business relationship. These loyalty programs usually reward the people who use their services on regular basis. These programs are beneficial for both company and customer as it helps the company to increase their reach and customers are able to get rewards in form of free products, discount and other.
Some of the major players in the market are Aimia Inc., Comarch SA, Epsilon Data Management LLC., ICF International Inc., Brierley+Partners, BOND BRAND LOYALTY INC, Ketchup Loyalty Marketing, Kobie, Oracle, SAP SE among others.
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Loyalty management is very beneficial for the business as it helps them to increase their sales and generate revenue. Today many companies spend more on the loyalty programs so that they can offer better rewards to their customers. By providing better loyalty programs, they will be able to satisfy their customers which will help them in brand building. These are some of the factors which are further creating opportunities for this market to grow.
Some of the factors responsible for the growth of this market are:
- Rising Trend of Loyalty Programs: Loyalty programs are a strategy which is made by the merchants so that they can attract more customers to use their services and products. They offer different reward schemes on their products and services. New products, discounts, reward point and other are some of the incentives which are offered by them to the customers. Loyalty programs main aim is to encourage customers to return. Typically, a unique membership card is provided to the customer so that they can get and use all the benefits efficiently
- Technological Advancement in Mobile Technology and Applications: Today, mobile is not just a medium to connect with each other, it is a source of entertainment, knowledge, fitness and other. There are different apps in mobiles for food, shopping, games, health, news and others which are helping the people in many ways and are time saving and easy to use. Many big brands such as Starbucks, Costa, Amazon, ZARA and others have their apps where they offer deals, discount, and coupon to their customers. This not only helps them to increase their customer reach but also increase their sales and revenue. Different reward programs are operated by these apps, where the customer earns points whenever they purchase something and these points can be used for future shopping
The global loyalty management market is segmented on the basis of solution which is further segmented as customer loyalty, employee retention, channel loyalty; deployment type which is segmented as on-premises, on-demand; organization size as SMEs, large enterprise and vertical as BFSI, travel & hospitality, retail & consumer goods, IT & telecommunication, media & entertainment, healthcare & life sciences and manufacturing.
Some of the launches and developments in the market are as follows:
- In January 2019, Ascenda announced the acquisition of Loyalty Advantage. The main aim of the acquisition is to expand their loyalty advisory division, improve their rewards program, and bring optimization for leading brands. This will help the company to strengthen their loyalty advisory services
- In October 2017, IQUII announced the launch of their new relationship & loyalty management platform Fanize which is specially designed so that the relation with the fanbases can be improved. This new program starts the implementation of membership, engagement and loyalty programs in pre-transactional phase and the user can interact with the product even before the purchase
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Research goals
- To study and break down the worldwide Loyalty Management market size by key districts/nations, item type and application, history information from 2014 to 2018, and conjecture to 2025.
- To comprehend the structure of Loyalty Management advertise by recognizing its different subsegments.
- Focuses on the key worldwide Loyalty Management players, to characterize, portray and investigate the worth, piece of the pie, advertise rivalry scene, SWOT examination and advancement designs in next couple of years.
- To dissect the Loyalty Management as for individual development patterns, future prospects, and their commitment to the all out market.
- To offer point by point data about the key variables affecting the development of the market (development potential, openings, drivers, industry-explicit difficulties and dangers).
- To venture the size of Loyalty Management submarkets, concerning key locales (alongside their individual key nations).
- To dissect focused improvements, for example, developments, understandings, new item dispatches and acquisitions in the market.
- To deliberately profile the key players and exhaustively dissect their development systems.
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Browse more reports:-
- North America Loyalty Management Market https://www.databridgemarketresearch.com/reports/north-america-loyalty-management-market
- Asia-Pacific Loyalty Management Market https://www.databridgemarketresearch.com/reports/asia-pacific-loyalty-management-market
- Europe Loyalty Management Market https://www.databridgemarketresearch.com/reports/europe-loyalty-management-market
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