Retail Bank Loyalty Program Market

Loyalty programs are structured marketing strategies designed by merchants to encourage customers to continue to shop at or use the services of businesses associated with each program. These programs exist covering most types of business, each one having varying features and rewards schemes.

Loyalty programs have emerged as one of the key marketing tools in the global retail banking industry. Retail banks offer a number of loyalty programs in developed economies, however many of these are commoditized. This has compelled banks to introduce innovative programs in order to remain both competitive and profitable.

There is also an increased pressure on costs due to new regulatory trends in last five years. Loyalty programs are being viewed as an important revenue-driving tool and have been proven to reduce customer acquisition costs. Retail banking in emerging economies is still in its developmental stages, as illustrated by its relatively low loyalty program penetration rates.

Retail banking is a typical mass-market banking industry that lets its customers use local branches of the more widespread commercial banking establishments. Retail banking is also generally known as consumer banking. Its services include mortgages, certificates of deposit (CDs), savings and checking accounts, debit/credit cards, and personal loans. The retail banking sector mainly focuses on catering to the needs of its retail clients.

Retail Bank Loyalty Program Market contains market size and forecasts of Retail Bank Loyalty Program in Global, including the following market information:

Global Retail Bank Loyalty Program Market Revenue, 2017-2022, 2023-2028, ($ millions)

Global top five companies in 2021 (%)

The global Retail Bank Loyalty Program market was valued at 1102.1 million in 2021 and is projected to reach US$ 1528.7 million by 2028, at a CAGR of 4.8% during the forecast period.

The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.

B2C Solutions Segment to Reach $ Million by 2028, with a % CAGR in next six years.

The global key manufacturers of Retail Bank Loyalty Program include Maritz, FIS Corporate, IBM, Aimia, TIBCO Software, Hitachi-solutions, Oracle Corporation, Comarch and Exchange Solutions, etc. In 2021, the global top five players have a share approximately % in terms of revenue.

We surveyed the Retail Bank Loyalty Program companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.

Total Market by Segment:

Global Retail Bank Loyalty Program Market, by Type, 2017-2022, 2023-2028 ($ millions)

Global Retail Bank Loyalty Program Market Segment Percentages, by Type, 2021 (%)

B2C Solutions

B2B Solutions

Corporate

Global Retail Bank Loyalty Program Market, by Application, 2017-2022, 2023-2028 ($ millions)

Global Retail Bank Loyalty Program Market Segment Percentages, by Application, 2021 (%)

Personal User

Business User

Global Retail Bank Loyalty Program Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)

Global Retail Bank Loyalty Program Market Segment Percentages, By Region and Country, 2021 (%)

North America

US

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Russia

Nordic Countries

Benelux

Rest of Europe

Asia

China

Japan

South Korea

Southeast Asia

India

Rest of Asia

South America

Brazil

Argentina

Rest of South America

Middle East & Africa

Turkey

Israel

Saudi Arabia

UAE

Rest of Middle East & Africa

Competitor Analysis

The report also provides analysis of leading market participants including:

Key companies Retail Bank Loyalty Program revenues in global market, 2017-2022 (estimated), ($ millions)

Key companies Retail Bank Loyalty Program revenues share in global market, 2021 (%)

Further, the report presents profiles of competitors in the market, key players include:

Maritz

FIS Corporate

IBM

Aimia

TIBCO Software

Hitachi-solutions

Oracle Corporation

Comarch

Exchange Solutions

Creatio

Customer Portfolios