Dublin, Aug. 01, 2023 (GLOBE NEWSWIRE) -- The "United Arab Emirates 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 2023 Update" report has been added to ResearchAndMarkets.com's offering.
According to the publisher, loyalty market in United Arab Emirates is expected to grow by 12.1% on annual basis to reach US$1,423.7 million in 2023.
In value terms, the loyalty market in United Arab Emirates has recorded a CAGR of 12.6% during 2018-2022.The loyalty market in United Arab Emirates will continue to grow over the forecast period and is expected to record a CAGR of 11.7% during 2023-2027. Loyalty market in the country will increase from US$1,269.7 million in 2022 to reach US$2,214.5 million by 2027.
In recent years, the UAE has seen a growing adoption of loyalty programs by businesses of all sizes. From e-commerce platforms to retailers, more and more brands are launching loyalty programs to boost repeat purchases and drive revenue growth. This trend can be attributed to several factors, including increasing competition, changing consumer behaviour, and advancements in technology.
In 2023, the growing inflation is projected to drive the adoption of loyalty programs among consumers in the Emirati nation. Consumers are seeking more value on their everyday spending amid the current macroeconomic environment. Consequently, the publisher expects a significant uptake in loyalty programs that offer personalized rewards to their members in the UAE.
Millions of Emiratis are enrolled in different loyalty programs offered by brands and businesses
Loyalty and reward programs are significantly popular among Emiratis. This is evident from millions of members that are registered with different brands and businesses in the Middle East nation.
- In January 2023, Emirates, one of the leading global airline carriers, announced that is Skywards loyalty program had signed up 30 million members. The program has partnered with 150 brands, including 16 airlines and over 100 hotel partners, allowing members to earn and redeem miles.
- Al Ansari Exchange, an online money transfer service in the UAE, also announced that it had enrolled two million members in its PLUS rewards loyalty program in January 2023. Through the Al Ansari Exchange app and digital channels, as well as any of their branches in the UAE, customers can earn points on their qualifying transactions. These points can then be used to access appealing discounts and offers on a range of popular brands in areas such as dining, entertainment, shopping, and more.
In 2023, the publisher expects these loyalty programs to record further uptake in their loyalty program members, thereby aiding the growth of the industry from the short to medium-term perspective.
E-commerce focused businesses are launching loyalty programs to drive growth in the UAE
Amid the growing competition in the e-commerce space, firms are seeking to leverage loyalty programs to drive repeat purchases and accelerate their revenue growth over the next three to four years.
- In April 2023, noon.com, one of the leading online marketplaces in the UAE, announced the launch of its loyalty program, noon One. The program seeks to drive repeat purchases from consumers with a reward system of unlimited free deliveries across its offerings. The new and improved loyalty program also enables consumers to save more on their purchases. To attract members, the firm is offering a two-week free access to loyalty program, along with a reduced membership fee per month until August 2023.
- In February 2023, Yango, the ride-hailing service in the UAE, also announced the launch of its loyalty program in the UAE. The loyalty program, Yango Plus, allows users to receive 10% from a ride as cashback points. Users can redeem the points in its entirety on the next ride. According to the firm, one loyalty program point is equivalent to 1 AED. The international ride-hailing service, which launched in the UAE in September 2022, has operations in more than 20 countries across the Middle East, Africa, Central Asia, and Europe.
From the short to medium-term perspective, the publisher expects more such e-commerce focused businesses to turn to loyalty programs to drive customer stickiness and boost their sales in the UAE. This will also accelerate the competitive landscape and innovation in the UAE loyalty programs industry in 2023.
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 on emerging business and investment market opportunities.
Scope
This report provides in-depth, data-centric analysis of loyalty programs in United Arab Emirates. Below is a summary of key market segments:
United Arab Emirates Retail Sector Spend Value Trend Analysis
- Ecommerce Spend
- POS Spend
United Arab Emirates Loyalty Spend Market Size and Future Growth Dynamics by Key Performance Indicators, 2018-2027
Value Accumulated and Value Redemption Rate of Loyalty programs in United Arab Emirates
United Arab Emirates Loyalty Spend Market Size and Future Growth Dynamics by Functional Domains, 2018-2027
- Loyalty Schemes
- Loyalty Platforms
United Arab Emirates Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Program Type, 2018-2027
- 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
United Arab Emirates Loyalty Spend Market Size and Future Growth Dynamics by Channel, 2018-2027
- In-Store
- Online
- Mobile
United Arab Emirates Loyalty Schemes Spend Market Size and Future Growth Dynamics by Business Model
- Seller Driven
- Payment Instrument
- Others
United Arab Emirates Loyalty Spend Market Size and Future Growth Dynamics by Key Sectors, 2018-2027
- Retail
- Financial Services
- Healthcare & Wellness
- Restaurants & Food Delivery
- Travel & Hospitality (Cabs, Hotels, Airlines)
- Telecoms
- Media & Entertainment
- Others
United Arab Emirates Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by online, 2018-2027
- Retail
- Financial Services
- Healthcare & Wellness
- Restaurants & Food Delivery
- Travel & Hospitality (Cabs, Hotels, Airlines)
- Telecoms
- Media & Entertainment
- Others
United Arab Emirates Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by In-Store, 2018-2027
- Retail
- Financial Services
- Healthcare & Wellness
- Restaurants & Food Delivery
- Travel & Hospitality (Cabs, Hotels, Airlines)
- Telecoms
- Media & Entertainment
- Others
United Arab Emirates Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by Mobile App, 2018-2027
- Retail
- Financial Services
- Healthcare & Wellness
- Restaurants & Food Delivery
- Travel & Hospitality (Cabs, Hotels, Airlines)
- Telecoms
- Media & Entertainment
- Others
United Arab Emirates Loyalty Spend Market Size and Future Growth Dynamics by Retail, 2018-2027
- Diversified Retailers
- Department Stores
- Specialty Stores
- Clothing, Footwear & Accessories
- Toy & Hobby Shops
- Supermarket and Convenience Store
- Home Merchandise
- Other
United Arab Emirates Loyalty Spend Market Size and Future Growth Dynamics by Accessibility, 2018-2027
- Card Based Access
- Digital Access
United Arab Emirates Loyalty Spend Market Size and Future Growth Dynamics by Consumer Type, 2018-2027
- B2C Consumers
- B2B Consumers
United Arab Emirates Loyalty Schemes Spend Market Size and Future Growth Dynamics by Membership Type
- Free
- Free + Premium
- Premium
United Arab Emirates Loyalty Platform Spend Market Size and Future Growth Dynamics by Software
- Analytics and AI Driven
- Normal CRM
United Arab Emirates Loyalty Platform Spend Market Size and Future Growth Dynamics by Vendor/Solution Partner
- In House
- Third Party Vendor
United Arab Emirates Loyalty Platform Spend Market Size and Future Growth Dynamics by Deployment
- Cloud
- On-Premise
United Arab Emirates Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Platforms, 2018-2027
- Software
- Services
United Arab Emirates Loyalty Spend Market Size and Future Growth Dynamics by Software Platforms, 2018-2027
- Custom Built Platform
- Off the Shelf Platform
United Arab Emirates Loyalty Spend Market Size and Forecast by Consumer Demographics & Behaviour, 2022
- By Age Group
- By Income Level
- By Gender
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 117 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $1.4 Billion |
| Forecasted Market Value (USD) by 2027 | $2.2 Billion |
| Compound Annual Growth Rate | 11.6% |
| Regions Covered | United Arab Emirates |
Reasons to buy
- Gain insights into the United Arab Emirates loyalty spend market: The report provides a comprehensive overview of the United Arab Emirates 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 United Arab Emirates 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.
For more information about this report visit https://www.researchandmarkets.com/r/e6e4mc
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
