Stay ahead of the curve and future-proof your business with Mintel’s UK Retail Customer Loyalty Market Report 2024. Our full report is packed with consumer-led market intelligence and a market analysis. Get a 360° view of customer loyalty in retail, including a forecast to help you align your business strategy with the needs of your audience.
Below, we’ve handpicked the key insights analysed in the full report and summarised the core topics.
While Clubcard Prices were innovative when first launched, now that customer loyalty schemes in the retail sector have become common, there is a threat that the engagement revitalisation through such schemes will ease in the short term.
45% of members think that all loyalty and reward schemes offer the same benefits. With the greater audience and uptick in frequency of use, innovation will be key to ensure high levels of engagement.
This Report looks at how retailers use reward and customer loyalty schemes in the retail sector to encourage their customers to increase spending and make purchases more regularly. Loyalty schemes are defined as programmes offered by a retailer that offers rewards as an incentive for continued patronage and frequent purchases. Rewards can be in the form of, but are not limited to, special offers, free treats, in-store discounts, special events or advanced access to new or limited-edition products.
This report was written by Nick Carroll, Director. Nick manages Mintel’s UK Retail Reports, covering shopper behaviour and retail strategy across channels and a broad range of retail categories. Nick is regularly asked for his opinion on the latest retail trends by the UK media and works with Mintel clients across sectors to understand shoppers’ behaviours and unlock opportunities within the market.
Our market research shows that the use of customer loyalty schemes in the retail sector remains heightened, driven by a continued need for value and a shift towards more instant gratification. To maintain engagement, retailers need to continue to innovate, while keeping personalisation as a key factor.
Nick Carroll
Director – Retail Insight
Mintel is the world’s leading market intelligence agency. We show you how consumers think today and tomorrow. As a trusted partner to industry leaders, we deliver game-changing insights to businesses across the globe, fuelling their marketing and innovation strategies that will shape the future.
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