Asia Pacific $75+ Billion Loyalty Programs Markets, 2022-2026: Credit Card Providers are Partnering with Grocery Stores to Launch Loyalty Programs
DUBLIN, May 19, 2022 /PRNewswire/ -- The "Asia Pacific Loyalty Programs Market Intelligence and Future Growth Dynamics Databook - 50+ KPIs on Loyalty Programs Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer Demographics - Q1 2022 Update" report has been added to ResearchAndMarkets.com's offering.
Loyalty Programs Market in Asia Pacific is expected to grow by 12.9% on annual basis to reach US$ 48138.9 million in 2022
In value terms, the Loyalty Programs Market in Asia Pacific has recorded a CAGR of 13.3% during 2017-2021. The Loyalty Programs Market in Asia Pacific will continue to grow over the forecast period and is expected to record a CAGR of 12.5% during 2022-2026. Loyalty Programs Market in the country will increase from US$ 42622.8 million in 2021 to reach US$ 76982.1 million by 2026.
In the last two to three years, key economies such as India, China, Indonesia, and Singapore witnessed substantial demand for loyalty and rewards programs. Moreover, rising fintech start-ups are also expanding their market share through innovative product launches in this category. Consequently, the publisher expects the market to record strong growth in 2022.
To promote a more sustainable lifestyle and attract consumers who are driven by eco-friendly brands, quick-service restaurants are launching green rewards programs that incentivize consumer behaviours.
Credit card providers are partnering with grocery stores to launch loyalty programs
With the shift in lifestyle preferences and increasing disposable income, consumers are looking for premium products and experiences. Therefore, premium cards are being launched, signifying a significant share in overall spending, which is an indication of consumers' increasing affinity toward the premium lifestyle.
The publisher expects that since India's premium consumer segment is showing strong potential for growth, the exclusive benefits for the SBI card loyal customers are likely to be retained by the company over the longer run.
With the businesses seeing all-time lows, companies are hyper-focused on loyalty programs to capture new customers and retain the existing customers. Therefore, loyalty and CRM management companies are attracting funds in the country.
With the loyalty programs helping keep customers engaged and turning positive ROI for companies, the publisher expects these B2B loyalty companies to attract more investments over the next four to eight quarters in the country.
Country reports in this bundled offering provide in-depth analysis of social commerce
Loyalty Spend Market Size and Future Growth Dynamics by Functional Domains, 2017-2026
Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Program Type, 2017-2026
Loyalty Spend Market Size and Future Growth Dynamics by Channel, 2017-2026
Loyalty Spend Market Size and Future Growth Dynamics by Key Sectors, 2017-2026
Loyalty Spend Market Size and Future Growth Dynamics by Retail, 2017-2026
Loyalty Spend Market Size and Future Growth Dynamics by Accessibility, 2017-2026
Loyalty Spend Market Size and Future Growth Dynamics by Consumer Type, 2017-2026
Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Platforms, 2017-2026
Loyalty Spend Market Size and Future Growth Dynamics by Software Platforms, 2017-2026
For more information about this report visit https://www.researchandmarkets.com/r/t8bc0p
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