Top 5 Loyalty Use Cases of the Week #1
Welcome to our new loyalty series, which provides a collection of the top loyalty program use cases from the previous week.
To help you remain up to speed on the most recent news regarding loyalty programs, we’ll be showcasing our selection of five intriguing, informative, and innovative articles in the loyalty space.
These news pieces will undoubtedly provide light on the ever-evolving loyalty program market, covering topics such as gamified loyalty programs integrating metaverse experiences, changes in top loyalty programs, and industry insights showing the importance of loyalty.
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Use Case #1
“Based on the behavioral data from more than 290 million loyalty actions, 88.5% of members trusted loyalty initiatives to help them overcome the current inflation crisis.” – Antavo
Further data points also suggest that due to the current economic climate, 93.7% of brands believe customer loyalty should be the main priority over customer acquisition.
Use Case #2
Albertsons Sees 33% Digital Growth Amid Strong Loyalty Program Engagement
“Our investments in digital transformation, differentiation in own brands and Fresh offerings, and the modernization of our operational capabilities contributed to these results.” – Vivek Sankaran (CEO at Albertsons).
During its third-quarter earnings report on Tuesday (Jan. 10), the grocery giant, which was acquired in October by competitor Kroger, noted a 33% rise in digital sales and a 16% increase in loyalty membership.
Use Case #3
How NFT Gamification Can Impact Customer Experiences in the Retail Industry in 2023
“By gamifying loyalty programs, brands are finding ways to connect & strengthen their customer base, providing value for their patronage, enhancing customer experience, and attracting new members from different market segments.” (RISNews)
Retailers, such as Walmart, have built digital outlets for virtual worlds (metaverses) as well as “wearable” NFTs that members can try on digitally, as a means to test the shopping experience in the metaverse.
Use Case #4
Wellness Brand Cymbiotika Launches Web3 Customer Loyalty Program on Polygon
“I always tell my inner circle that we are not a one-stop shop for fixing your health; you must stay committed to your health… What better way to stay committed than by getting rewarded for it.” – Chervin Jafarieh (Cymbiotika Co-Founder)
Using the Polygon chain, Cymbiotika has launched its web3 customer loyalty program. The wellness brand joins a growing list of companies leveraging blockchain technology to reward loyal customers. Including the likes of Starbucks, Venmo, and Shake Shack.
Use Case #5
Welcome to the Reward Wars, Where Food Chains Go Desperate for Your Loyalty
“Chipotle reported an increase of one million rewards members between its second and third quarters of last year… Starbucks also saw a 16% increase in members in last year’s fourth quarter.” (BA)
Recently, many big brands have started changing their loyalty program offerings to stay aligned with the competition. Despite the changes – and the controversy that has followed – membership numbers have continued to rise.
Thank you for taking the time to read our top 5 articles of the week on loyalty programs. We hope that it has provided you with useful insights into the potential advantages that loyalty programs can offer for businesses and customers alike.
Don‘t forget to signup for early access to our upcoming Loyalty Report 2023 coming soon. Who knows what other surprises await by registering early: Global Rewards Liquidity Report (2023)
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