Next-Generation Customer Loyalty

June 2023

Customer loyalty is transforming due to changing consumer preferences, technological advances and the e-commerce boom. Reinvigorating loyalty programmes in this new digital and experience-led economy requires brands to be equipped with the right strategies and tools to secure growth, maximise customer retention, build meaningful relationships and increase user satisfaction. Weaving in tactics which encourage new sales, nurture engagement and inspire loyalty will bring more added value.

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This report comes in PPT.

Key findings

Business agility in times of innovation

It is crucial for loyalty programmes to innovate, and try out new formats. When adjusting the current loyalty programme or developing a new one from scratch, businesses should be aware and open-minded regarding future changes. The relevance of each innovative solution should be explored first, then tested and adapted to fit the needs of the business. Building brand loyalty requires a balanced approach to change. Transformation and agility is a must, but businesses should consider their capacity and have a clear vision of where they want to be.

Embracing consumer values and tailoring the offer

Next-generation consumer loyalty is about consumers seeking experiences in products and services. The two most active loyalty consumer segments – Loyalty Enthusiasts and Loyalty Explorers – expect experiences, rewards and personalised offers in return for sharing their data. It is important for brands to become consumer advocates and use a human-like approach when targeting both new and enthusiastic loyalists. To offer products and services that provide tailored experiences and relate to consumers’ values, businesses should listen attentively and aim to understand consumer motivations and behaviour.

Adopt a balanced approach as a crossover between transactional and emotional loyalty

Adding an emotional approach to a loyalty programmes is a driving force to evoke a strong and long-lasting bond with the brand. A sense of purpose and community, and being valued and recognised as a customer is paramount for the evolution of loyalty programmes. Embracing fun and excitement, offering convenience and better understanding customer sentiments will cultivate brand affinity and increase emotional loyalty. 

Key takeaways
Exploring next-generation customer loyalty
Drivers of next-generation customer loyalty
Context-led drivers of next-generation customer loyalty
Consumer-led drivers of next-generation customer loyalty
Euromonitor International’s Loyalty Consumer Segments
How does Euromonitor International define Loyalty Consumer Segments?
Preferences and attitudes to loyalty by consumer segment
Engaged Loyalists vs Loyalty Spenders and their shopping interests
Forecast significance of next-generation loyalty drivers
Important aspects to keep in mind as next-generation customer loyalty emerges
Next-generation customer loyalty uncovered
Web 3.0 challenges the status quo
The importance of interoperability and ownership
Flybondi : NFT – the new airline ticket
Technological innovation fuels the optimisation of loyalty programmes
Enhancing loyalty programmes by creating brand communities
Food fighters: The first NFT restaurant group
Building emotional loyalty and nurturing brand advocates must be the way forward
NFTs: the new driver of loyalty
YSL Beauty: nurturing exclusivity with NFT loyalty approach
NFTs: democratising the rewards space
Boosting retention with omnichannel loyalty
EMG: The new Web 3.0 super app in the telecommunications sector
Multi-platform loyalty engagement: the way to recognise, surprise and delight members
The power of instant gratification for an effective loyalty strategy
Keells Supermarkets: Embracing real-time redemption with SampathCards  in Sri Lanka
Redefining loyalty with the help of instant rewards is key in evolving business environment
Key takeaways
Next-generation customer loyalty: How to win
The evolution of next-generation customer loyalty
What if everything we have considered previously develops differently?

Consumer Finance

This is the aggregation of ATM, charge, credit, debit, e-purse and retail cards. Note that smart cards are not included in financial cards.

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