The South African loyalty and rewards industry has enjoyed exponential growth during the past decade, with a spike in program numbers in the past five years. It’s clear that consumers expect more from relationships with brands, and companies are responding. However, during the past year or so, trading has been tough and marketing budgets have been cut. Loyalty programmes have been affected accordingly, with owners and suppliers compelled to review and consolidate the initiatives. On the upside, it has encouraged companies to refocus on customer retention and pay greater attention to execution, communication and differentiation of programs.
With millions of loyalty points sitting dormant and 79% of South African consumers retracting loyalty at profitcrushing rates, organisations must concentrate on the latest factors driving customer loyalty in the digital age.
Loyalty and Rewards SA is designed to provide role players with the opportunity to communicate the latest developments to their current target markets as well as to new audiences, with the view to increase their market share.