Analysis reveals 70% of Australian loyalty program members in 2022 are profiting from most of their rewards and advantages, up from 63% in 2020 (pre-pandemic) and up from 54% in 2016
Outcomes from the tenth version of the annual Australian buyer loyalty and loyalty program analysis research, For Love or CashTM 2022, reveals 70% of Australian loyalty program members are profiting from most rewards and advantages their applications supply.
This can be a vital improve because it was first researched in 2016 when solely 54% indicated they had been profiting from most of their rewards and advantages.
Commissioned within the first quarter of 2022 by buyer loyalty consultancy – The Level of Loyalty,
For Love or CashTM 2022 additionally reveals how manufacturers who put money into loyalty applications additionally profit.
Report writer and CEO of The Level of Loyalty, Adam Posner stated “With rising inflation and financial uncertainty, it’s not stunning members are extra engaged with applications they know and belief to earn extra financial savings and rewards.”
Adam added “On the similar time, manufacturers with applications additionally win. Their members work together and transact extra, and the enterprise is rewarded with retention and repeat enterprise”.
Loyalty applications’ impression on model engagement will increase. The analysis highlights the impression applications have on model engagement with 71% of members indicating this system has an impression on how a lot and the way usually they buy (up from 56% in 2020).
Adam Posner added “A program’s affect on their members’ motivation to interact with a model has elevated considerably since first measured within the pre-pandemic 2020 For Love or CashTMresearch, proving the facility of applications lately for manufacturers who put money into them”.
NEW: Gathering knowledge will increase expectations. The analysis additionally reveals for the first-time the expectations members have of loyalty applications accumulating their private and buy behaviour knowledge with 45% of members having greater expectations of the usage of their knowledge if they’re a member of a loyalty program.
Posner stated, “As manufacturers concentrate on their zero- and first-party knowledge methods, loyalty applications have gotten a go-to technique to work together with their clients in a private, consented, and compliant manner. This locations an expectation on manufacturers to make use of this private and behavior knowledge so as to add worth to the lives of members”.
Incomes cryptocurrency as rewards appeals to Gen Z and Gen Y. The report tracks new methods for members to be rewarded. 32% of members revealed that incomes cryptocurrency as a reward is interesting. For Gen Z and Y their want to earn cryptocurrency as a reward is considerably greater (44% and 47% respectively).
Adam Posner stated “The commentary on Cryptocurrency and NFTs is vibrant proper now and it was attention-grabbing to grasp how interesting these new methods of being rewarded are to loyalty program members. The youthful generations are exhibiting extra urge for food for these digital currencies as rewards”.
‘Subscription guilt’ – a watch-out for subscription applications. The report additionally highlights an rising development in ‘subscription guilt’. First benchmarked in 2019, the % of members who point out they’ve a sense of guilt for not utilizing or accessing sufficient of the advantages supplied by a subscription has elevated from 30% (2019) to 36% in 2022.
Posner stated, “Subscription applications are extremely popular for some classes of enterprise with leisure streaming companies, meals supply, meal kits and even QSRs profiting from the subscription program mannequin. Nonetheless, members are indicating their ‘guilt-factor’ when not profiting from the advantages supplied and that is watch-out for managers of subscription applications”.
2022 rating of Australian loyalty applications most talked about unprompted by members, as ‘doing an excellent job’
Flybuys achieves primary rating in 2022 because the loyalty program ‘doing an excellent job’ and has had a major improve from 29.7% in 2021 to 48.4% in 2022.
Posner added: ”It was stunning to see the numerous improve within the reputation of Flybuys, though from what members revealed within the analysis, the addition of Bunnings and Officeworks as companions late in 2021 has added so many extra choices for members to earn rewards”.
A complimentary Government Abstract of the total report is out there at www.thepointofloyalty.com.au with a complete report obtainable for buy at www.thepointofloyalty.com.au.
For additional data or to rearrange an interview contact:
Adam Posner: CEO – The Level of Loyalty
0433 818190
adam@thepointofloyalty.com.au
Concerning the analysis
The For Love or CashTM 2022 analysis is the tenth version of the annual analysis research. It was commissioned by The Level of Loyalty and performed independently by First Level Analysis and Consulting within the first quarter of 2022 by way of a nationwide on-line panel of 1,010 Australian shoppers of women and men aged 18+ who’re members of no less than one loyalty program. The analysis was structured to realize quantitative outcomes with comparative evaluation in addition to qualitative insights.
About The Level of Loyalty
The Level of Loyalty is a strategic buyer loyalty and loyalty program consultancy devoted to driving enterprise progress from current clients by way of worthwhile loyalty and rewards applications. CEO Adam Posner is a buyer loyalty strategist and has been concerned within the design, improvement and deployment of buyer loyalty and rewards applications throughout industries together with leisure, pharmacy, inns and lodging, commerce, schooling, hospitality and retail (numerous).
