Dublin, Oct. 01, 2024 (GLOBE NEWSWIRE) -- The "China 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 - Q3 2024 Update" report has been added to ResearchAndMarkets.com's offering.
In value terms, the loyalty market in China has recorded a CAGR of 12.9% during 2019-2023. China's loyalty market will continue to grow over the forecast period and is expected to record a CAGR of 9.8% during 2024-2028. The loyalty market China is set to increase from US$16.90 billion in 2023 to reach US$27.34 billion by 2028.
The loyalty program landscape in China is rapidly evolving, with brands adapting to Chinese consumers' unique preferences and behaviours. Personalization, gamification, and community building are key trends shaping the country's future of loyalty programs. As the market grows, brands must stay agile and responsive to the changing regulatory environment and consumer demands.
By leveraging data-driven insights and innovative strategies, brands can create loyalty programs that foster long-term customer relationships and drive sustainable growth in the highly competitive Chinese retail market.
Unleash the Power of Loyalty: Trends Shaping China's Retail Landscape
- Personalization is key: Brands are leveraging data analytics and AI to offer customers tailored experiences, rewards, and communications.
- Gamification is prevalent: Loyalty programs incorporate game-like elements to engage customers and drive frequent interactions.
- Mobile-first approach: With a mobile-centric consumer base, loyalty programs are designed to be seamlessly integrated into popular apps like WeChat.
- Community building: Social aspects are emphasized, with features that encourage group participation and shared rewards.
New Loyalty Programs Launched in China
- Starbucks Rewards: Offers a stylish gift card with exclusive benefits like free refills, free syrup, and regular gifts.
- Alibaba's 'Taobao Tejia' program: Combines loyalty points with personalized product recommendations and exclusive deals.
Cashback Loyalty Programs: A Growing Trend
- Increasing popularity: Cashback programs are gaining traction as they offer immediate financial rewards to customers.
- Integration with mobile payments: Cashback programs are often linked to popular mobile payment platforms like Alipay and WeChat Pay.
- Targeted promotions: Brands use cashback offers to incentivize specific behaviours, such as first-time purchases or referrals.
Regulatory Changes Impacting Loyalty Programs
- Data privacy regulations: The Chinese government has implemented stricter data privacy laws, requiring brands to obtain explicit customer consent before collecting and using personal data.
- Restrictions on unfair competition: Regulations have been introduced to prevent loyalty programs from engaging in unfair competitive practices, such as offering excessive discounts or rewards.
- Emphasis on consumer protection: Regulators are focused on ensuring that loyalty programs provide transparent terms and conditions and protect consumer rights.
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.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 117 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $18.83 Billion |
| Forecasted Market Value (USD) by 2028 | $27.34 Billion |
| Compound Annual Growth Rate | 9.8% |
| Regions Covered | China |
Report Scope
This report provides in-depth, data-centric analysis of loyalty programs in China. Below is a summary of key market segments.
China Retail Sector Spend Value Trend Analysis
- Ecommerce Spend
- POS Spend
China Loyalty Spend Market Size and Future Growth Dynamics by Key Performance Indicators
Value Accumulated and Value Redemption Rate of Loyalty programs in China
China Loyalty Spend Market Size and Future Growth Dynamics by Functional Domains
- Loyalty Schemes
- Loyalty Platforms
China Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Program Type
- 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
China Loyalty Spend Market Size and Future Growth Dynamics by Channel
- In-Store
- Online
- Mobile
China Loyalty Schemes Spend Market Size and Future Growth Dynamics by Business Model
- Seller Driven
- Payment Instrument Driven
- Others
China Loyalty Spend Market Size and Future Growth Dynamics by Key Sectors
- Retail
- Financial Services
- Healthcare & Wellness
- Restaurants & Food Delivery
- Travel & Hospitality (Cabs, Hotels, Airlines)
- Telecoms
- Media & Entertainment
- Others
China Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by Online
- Retail
- Financial Services
- Healthcare & Wellness
- Restaurants & Food Delivery
- Travel & Hospitality (Cabs, Hotels, Airlines)
- Telecoms
- Media & Entertainment
- Others
China Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by In-Store
- Retail
- Financial Services
- Healthcare & Wellness
- Restaurants & Food Delivery
- Travel & Hospitality (Cabs, Hotels, Airlines)
- Telecoms
- Media & Entertainment
- Others
China Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by Mobile App
- Retail
- Financial Services
- Healthcare & Wellness
- Restaurants & Food Delivery
- Travel & Hospitality (Cabs, Hotels, Airlines)
- Telecoms
- Media & Entertainment
- Others
China Loyalty Spend Market Size and Future Growth Dynamics by Retail
- Diversified Retailers
- Department Stores
- Specialty Stores
- Clothing, Footwear & Accessories
- Toy & Hobby Shops
- Supermarket and Convenience Store
- Home Merchandise
- Other
China Loyalty Spend Market Size and Future Growth Dynamics by Accessibility
- Card Based Access
- Digital Access
China Loyalty Spend Market Size and Future Growth Dynamics by Consumer Type
- B2C Consumers
- B2B Consumers
China Loyalty Schemes Spend Market Size and Future Growth Dynamics by Membership Type
- Free
- Free + Premium
- Premium
China Loyalty Platform Spend Market Size and Future Growth Dynamics by Software Use Case
- Analytics and AI Driven
- Management Platform
China Loyalty Platform Spend Market Size and Future Growth Dynamics by Vendor/Solution Partner
- In House
- Third Party Vendor
China Loyalty Platform Spend Market Size and Future Growth Dynamics by Deployment
- Cloud
- On-Premise
China Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Platforms
- Software
- Services
China Loyalty Spend Market Size and Future Growth Dynamics by Software Use Case Platforms
- Custom Built Platform
- Off the Shelf Platform
China Loyalty Spend Market Size and Forecast by Consumer Demographics & Behaviour
- By Age Group
- By Income Level
- By Gender
For more information about this report visit https://www.researchandmarkets.com/r/uqtpvv
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