Dublin, March 13, 2024 (GLOBE NEWSWIRE) -- The "Nigeria 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 latest market intelligence study spotlights the flourishing future of loyalty programs in Nigeria, detailed within a comprehensive databook update. Sectors including retail, financial services, and travel are poised to leverage customer loyalty to foster sustained business growth.
According to a recently updated databook, Nigeria's loyalty programs market is forecasted to achieve significant growth, with a projected 10.7% annual increase culminating in a US$628.5 million valuation by 2024. The robust trajectory of this market is underpinned by a commendable compound annual growth rate (CAGR) of 12.4% recorded from 2019-2023, with future prospects indicating a continued rise at a CAGR of 9.5% during the 2024-2028 period. By 2028, the loyalty market in Nigeria is expected to reach an impressive US$904.0 million.
This detailed data-centric report encompasses more than 50 key performance indicators (KPIs), offering a panoramic view of the loyalty programs' trends across various end-use sectors. Critical operational KPIs, dynamics of retail product offerings, and consumer demographics feature prominently in this analysis, providing market participants with an invaluable tool for strategic planning.
In a market segment as diverse as Nigeria's, the databook navigates through an array of loyalty program constructs, including points and tier-based systems, subscription-based offerings, and cashback programs, among others. A clear demarcation of market dynamics by channel—such as in-store, online, and mobile—is provided, reflecting the multifaceted approach businesses are taking to enhance customer engagement and retention.
Loyalty Schemes Spend
- Market Size Analysis and Forecast
- Breakdown by Retail Categories
- Consumer Accessibility Trends
Loyalty Programs' Impact on Key Sectors
- Retail
- Financial Services
- Healthcare & Wellness
- Travel & Hospitality
- Other Emerging Sectors
Furthermore, the databook offers a nuanced view on the spend market size within key sectors—an insight crucial for navigating the competitive landscape. It also delves into consumer types, membership models, and the technological backbone of these programs, including analytics-driven loyalty platforms and deployment models.
The evolution of the loyalty programs market in Nigeria can notably influence consumer purchasing behavior, with the databook emphasizing strategic recommendations. Industry players, stakeholders, and decision-makers stand to gain a wealth of knowledge on sustaining growth, improving customer experience, and adapting to emerging market trends.
As the loyalty programs landscape continues to mature and expand, this databook serves as a critical resource for market participants looking to elevate their customer loyalty initiatives and secure a competitive edge in Nigeria's vibrant market.
This comprehensive report is integral to understanding the intricacies of the loyalty programs market in Nigeria and to forging a path towards sustained success in this dynamic sector.
Key Topics Covered
- About this Report
- Nigeria Retail Sector Market Size Analysis
- Nigeria Loyalty Spend Market Size and Future Growth Dynamics
- Nigeria Loyalty Schemes Spend Market Size and Future Growth Dynamics by Loyalty Program Type
- Nigeria Loyalty Schemes Market Size and Future Growth Dynamics by Channel
- Nigeria Loyalty Schemes Spend Market Size and Future Growth Dynamics by Business Model
- Nigeria Loyalty Schemes Spend Market Size and Future Growth Dynamics by Key Sectors
- Nigeria Loyalty Schemes Spend in Key Sectors by Online Channel
- Nigeria In-Store Loyalty Schemes Spend in Key Sectors
- Nigeria Mobile App Loyalty Schemes Spend in Key Sectors
- Nigeria Retail Sector Loyalty Schemes Spend Market Size and Future Growth Dynamics
- Nigeria Loyalty Schemes Spend Market Size and Future Growth Dynamics by Accessibility
- Nigeria Loyalty Schemes Spend Market Size and Future Growth Dynamics by Consumer Type
- Nigeria Loyalty Schemes Spend Market Size and Future Growth Dynamics by Membership Type
- Nigeria Loyalty Platform Spend Market Size and Future Growth Dynamics by Software Use case
- Nigeria Loyalty Platform Spend Market Size and Future Growth Dynamics by Vendor/Solution Partner
- Nigeria Loyalty Platform Spend Market Size and Future Growth Dynamics by Deployment
- Nigeria Loyalty Spend Market Size and Future Growth Dynamics by Software vs. Services
- Nigeria Loyalty Spend Market Size and Future Growth Dynamics by Custom vs. Off the Shelf Software Platforms
- Nigeria Loyalty Spend Market Size and Forecast by Consumer Demographics & Behavior
- Further Reading
Key Attributes
| Report Attribute | Details |
| No. of Pages | 117 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $628.54 Million |
| Forecasted Market Value (USD) by 2028 | $904.05 Million |
| Compound Annual Growth Rate | 9.5% |
| Regions Covered | Nigeria |
For more information about this report visit https://www.researchandmarkets.com/r/7fj5ti
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