2024
9
US Loyalty in Retail Market Report 2024
2024-02-28T14:02:25+00:00
REP0236484A_1B74_4209_8275_234472297A97
3695
170965
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Report
en_GB
Loyalty is evolving; it has become a two-way street where consumers want tangible benefits, and in return, reward businesses with their advocacy and dollars. Marisa Ortega, Retail & eCommerce…

US Loyalty in Retail Market Report 2024

£ 3,695 (Excl.Tax)

Report Summary

Explore the US retail loyalty programs market with this report. Covering consumer attitudes toward loyalty programs and brand loyalty, you’ll gain critical insights into what motivates consumers to brands consistently.

Below, we’ve summarized the key topics covered and offer hand-selected findings from the full document.

Key Topics Covered

  • The impact of macroeconomic factors on the loyalty programs market.
  • Reasons driving consumers to switch from one brand to another.
  • Consumer brand loyalty by category and use of loyalty/reward programs by retailer.
  • Desired features in loyalty programs.

US Retail Loyalty Programs Market Overview

More than seven in 10 consumers state that brand loyalty programs make them feel more valued. Through robust loyalty programs, brands can become part of consumers’ routines and deepen existing relationships. As budgeting becomes more important to consumers, loyalty programs can also become an essential tool. Going forward, with a lack of differentiation among brands in their programs, there are significant opportunities to improve their offerings.

Consumer Brand Loyalty Insights

  • Loyalty goes beyond just purchase behavior. While most consumers believe loyalty comes down to what and where they habitually shop, there are other consumer definitions of loyalty. Providing reviews or interacting with brands on social media are just two other definitions consumers make.
  • Consumers can be enticed to switch brands. High prices (56% agree) and a change in product quality are top-stated reasons for consumers to switch brands. As not all brands can compete on price, brands can leverage value add-ons such as free/fast shipping and good customer service to retain customers.
  • Different features have different importance to consumers. Coming in at second place is a points system with rewards, and less important to consumers are special perks and personalized offers. Brands can combine top-priority features with less important features to differentiate from competitors.

For a comprehensive analysis of the loyalty programs market in the US, buy the full report. You may also be interested to view our retail promotions market report, or browse our retail market research.

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Expert Analysis

Leading retail analyst Marisa Ortega delivers expert industry analysis of the US loyalty programs market with this in-depth report.

Loyalty is evolving; it has become a two-way street where consumers want tangible benefits, and in return, reward businesses with their advocacy and dollars.

Marisa Ortega - Retail and eCommerce Analyst
Marisa Ortega
Retail & eCommerce Analyst

Table of Contents

    • Key issues covered in this Report
  1. Executive Summary

  2. Consumer Insights

    • What it means to be loyal
    • Graph 1: what it means to be loyal to a brand/retailer, 2023
    • Graph 2: what it means to be loyal to a brand/retailer, by gender, 2023
    • Graph 3: what it means to be loyal to a brand/retailer, by age, 2023
    • Loyalty drivers
    • Graph 4: factors to be loyal to a brand or retailer – NET – Any rank, 2023
    • Graph 5: factors to be loyal to a brand or retailer, by age – NET – any rank, 2023
    • Graph 6: factors encouraging loyalty to a brand or retailer, by race and Hispanic origin – NET – any rank, 2023
    • Reasons for switching
    • Graph 7: reasons that would encourage switching brands/retailers, 2023
    • Graph 8: reasons that would encourage switching brands/retailers, by age – NET – any rank, 2023
    • Graph 9: reasons that would encourage switching brands/retailers, parental status – NET – any rank, 2023
    • Loyalty, by product category
    • Graph 10: brand loyalty, by product category, 2023
    • Graph 11: brand loyalty, by product category and gender, 2023
    • Graph 12: brand loyalty, by product category and age, 2023
    • Use of loyalty/reward programs
    • Graph 13: retailers where consumers use a reward or loyalty program, 2023
    • Graph 14: retailers where consumers use a reward or loyalty program, by age, 2023
    • Loyalty program features
    • Graph 15: important features in loyalty programs, 2023
    • Graph 16: important features in loyalty programs, by age, 2023
    • Graph 17: important features in loyalty programs, by parental status, 2023
    • Attitudes toward loyalty
    • Graph 18: attitudes toward loyalty – rewards/loyalty program impact, by key demographics – NET – agree, 2023
    • Graph 19: attitudes toward loyalty – feelings toward paid memberships, by key demographics – NET – agree, 2023
    • Graph 20: attitudes toward loyalty – brand preferences, by gender and age, financial situation – NET – agree, 2023
    • Graph 21: Attitudes toward loyalty – impact of inflation, by key demographics – NET – agree, 2023
  3. Competitive Strategies

    • Opportunities
  4. The Market

    • Market drivers
    • Graph 22: quarterly real GDP growth, 2020-23
    • Graph 23: headline CPI, core CPI, and shelter CPI, 2021-23
    • Graph 24: opinions on financial future, 2024
    • Graph 25: consumers that believe they will be worse-off, by household income, 2023
  5. Appendix

About the report

This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

Market

Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.

Consumer

Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.

Brand/Company

Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.

Data

Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.

*databooks not available with UK B2B Industry reports.

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2024 Sample Consumer Cover

Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted. Our reports are available to download in PDF and PPT formats.

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