Report Overview

Juniper Research’s new Digital Loyalty Programmes report offers players in the loyalty space a comprehensive independent assessment of the current state of the loyalty programme market, including key loyalty verticals and credit card rewards, as well as outlining our future outlook for this rapidly evolving market.  

The research provides detailed analysis of the fundamental drivers of loyalty within different industry verticals, how the digitisation of loyalty programmes is improving, how they are created and run, and how this is evolving the user experience for retailers in diverse markets. The report also examines key examples of digital loyalty programmes within different industry verticals to establish best practice for programme deployment and evolution.
The research covers:
  • Mobile Coupons (SMS, Email, Web, Apps)
  • Desktop/Laptop Coupons
  • Chatbot Coupons
  • Digital Loyalty Programmes
  • Credit Card Rewards (Personal/Corporate)
The research suite includes:
  • Deep Dive Strategy & Competition (PDF)
  • 5-Year Deep Dive Data & Forecasting (PDF/IFXL)
  • Executive Summary & Core Findings (PDF)
Key Market Statistics
Digital loyalty programme memberships in 2022: 24.7bn
Digital loyalty programme memberships in 2026: 32.8bn
2022 to 2026 CAGR: 7.4%

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Key Features

  • Market Analysis: Provides a detailed evaluation of the digital loyalty ecosystem; analysing the current market status across key global regions and industry verticals:
    • Mobile Coupons (SMS, Email, Web, Apps)
    • Desktop/Laptop Coupons
    • Chatbot Coupons
    • Digital Loyalty Programmes
    • Credit Card Rewards (Personal/Corporate)
  • Interviews: With leading digital loyalty platform and solution providers across the value chain. Interviewed:
    • CodeBroker
    • Eagle Eye
    • Valassis 
  • Benchmark Industry Forecasts: Mobile and eCoupon redemption volumes and values, as well as credit card reward/incentive transaction volumes and values plus forecasts for digital loyalty programme membership.
  • Juniper Research Leaderboard: Analyses 15 key digital loyalty platform and solution providers to evaluate their respective positioning.
  • Retailer Readiness Index - Index positioning for the top 25 retailers globally by revenue. This is a crucial resource for established and new loyalty programme providers alike.

Key Questions Answered

  1. What are the key drivers of loyalty programme digitisation?
  2. How can stakeholders drive participation in loyalty programmes?
  3. What are the growth prospects for loyalty programme membership over the next 5 years?
  4. What are the revenue opportunities in the mobile coupons market?
  5. Which markets are leading value growth in credit card rewards/incentives?

Companies Referenced

Interviewed: CodeBroker, Eagle Eye, Valassis.
Profiled: Aimia, Annex Cloud, AppCard, Bink, BrandLoyalty, Brandmovers, CodeBroker, Comarch, Eagle Eye, Kobie, m—wise, Quotient,, Valassis, Yotpo.
Case Studied: Fidel, Fortress.
Included in Juniper Research Retailer Positioning Index: Aeon, Ahold Delhaize, Aldi, Alibaba, Amazon, Auchan, Carrefour, Costco, Groupe Casino, H&M, The Home Depot, IKEA, Inditex, Intermarché,, Lowe's, McDonald's, Metro AG, Rewe Group, Schwarz Group, Seven & I, SPAR International, Tesco, Walgreens Boots Alliance, Walmart.
Mentioned: 7-Eleven, AA, ACCC (Australian Competition and Consumer Commission), Accor, Adavium Medical, Aditi, Adobe, Advance Auto Parts, Ahalogy, Air Canada, Air Portugal, AkzoNobel, Albert Heijn, Aldi, AliExpress, Alitalia, Alleigance, Alliance Data Systems, American Airlines, American Express, ANA, ANA (Association of National Advertisers), Ancestry, Antavo, AOL, Apple, Argos, Armstrong McCall, Asda, ASG, AT&T, Auckland Airport, avios, AwardWallet, Away Travel, Bain & Company, Banco do Brasil, Banco Itaú, Bank of America, Bank of Baroda, Bank of India, Bank of New Zealand, Barclaycard, Barclays Bank, Bed, Bath & Beyond, BGL BNP Paribas, BigCommerce, BigHairyDog, Bilendi, BILLA, BIPA, bitFlyer, BJ’s, Bond Brand Loyalty, Bonmarché Holdings,, BP, Bradesco, British Airways, Brixy, Calvin Klein, Canadian Retail Solutions, Canara Bank, Capital One, Cardlytics, Casino, Certco, Chase Bank, Cheap Monday, China Mobile, China UnionPay, Cisco, Citibank, Clang, Clearly, Coca-Cola, Coles, Comex, Complete Data Systems, ConAgra, ConnectUpz, Consumer Intelligence Research Partners, COS, Costa Coffee, Crisp Mobile, Debenhams, Deloitte, Demand Film, Digicash Payments, Diners Club International, Discover Financial Services, Dollar General, Dotdigital, Dotz, Douka Bé, Duane Reade, Dunkin’,, eBay, ejje, Elevaate, Embassy Suites, EMM (Eredivisie Media & Marketing), Emma, EMVCo, ensighten, Enterprise Rent-A-Car, Epsilon, Esurance, ETSI, European Central Bank, Eurostar, Everybody’s Bitcoin, EVO Payments, Evy’s Tree, ExxonMobil, Facebook, Feeding America, fidme, FIFA, Food Lion, Foodstuffs, franprix, Fresh & Easy, Géant Casino, Gemalto, GET1FREE, Goldman Sachs, Google, Gooseberries, GoPlae, Greggs, Groupon, Grupo Aeroméxico, Halliburton, Hallmark, Hampton, Hannaford, Harland Clarke Holdings, Hawaiin Airlines, HDFC Bank, Heathrow Airport, Heineken, Hello Kitty, Hilton Hotels & Resorts, HSBC, HTC, HubSpot, Hudson’s Bay, Hunkemöller, IAG New Zealand, IBM, ICBC, IceMobile, ICICI Bank, Infor, Infosys, Inkbox, Inspire Loyalty, Instagram, International Testing Services, intu, ITRetail, JADS (Jheronimus Academy of Data Science), JCB, JD Sports,, JetBlue, Jimmy Joy, Just Eat,, Karns, Kaufland Handelshof, Kaufmarkt, KFC, Kipling, Klarna, Klaviyo, Kognitiv Corporation, Kroger, L’Oréal, La Place, LATAM Airlines, Lenovo, Lidl, Lightspeed, Listrak, Livelo Brasil, LMG (Loyalty Management Group), Loblaws, Loyalize, Loyalty New Zealand, Loyalty One, Loyalty Partner, LoyaltyLionm LSBU (London South Bank University), MacAndrews & Forbes, MacKenzie-Childs, Macy’s, Magento, Mallett Group, Mandarin Oriental, Marine Depot, Marriott Hotels, Mastercard, MDI, MEF, Melissa & Doug, MERKUR, MGM Resorts International, Microsoft,, Monetate, Monki, Monoprix, MVMT Watches, MyGravity, Myntra, Myspace, Nahkauf, NAM (News America Marketing), NBC Universal, Nectar, Neogov, Nestlé, Netpoints, Netto, New Balance, Next Web, NFL, Nielsen, Nike, NPCI (National Payments Corporation of India), Okendo, Olympus, OneStep, Onmyoji, Optimizely, Oracle, Oracle Hospitality, Other Stories, Oysho, P&G, Pão de Açúcar, Payback, PayPass, Paytm, PENNY, People’s Bank of China, PetSmart, Pinterest, Pixi, Pizza Express, Plexure, Polaroid, Popbar, Primera, ProLogic Retail Services, Publix, Pull&Bear, Punjab National Bank, QlikView, QuickPivot, Rakuten, RCBC Bank, ReadyTouch,, ReCharge, Redpoint Global, RetailMeNot, RetailPro,, ROFDA, Run Gum, Runway Fashion Exchange, RuPay, S&H (Sperry & Hutchinson), Saga, Sainsbury’s, Salesforce, Samsung, Santander, SAP, Secor, Security Service Power, SessionM, Shell, Shoelace, Shop’n Save, Shopify, ShopKeep, Shopmium,, Shopper's Stop, ShopRite, Shur Save, Signal, Singapore Airlines, SleekShop, Smart Button,, SMS Bump, Southwest Airlines, SpringboardRetail, Stamped, Standard Charter Bank, Starbucks, StarHub, State Bank of India, SteelSeries, Stocard, Strava, Subway, Sun Capital Partners,, Super Indo, Swell, TAM SA, Taobao, Taopiaopiao, Target, TCC Global, Tealium, Telstra, Telus, Texas International Airlines, The Soup Peddler, Tmall, TMForum, T-Mobile, Tommy Hilfiger, Topps, Topsport Community, Tpoint Japan, Tradedoubler, Tranxactor, TripIt Pro, Turkcell, Twid, Twitter, Uber, Ubimo, UEFA, Unata, Unilever, Union Bank of India, United Airlines, UNTUCKit, US Bank National Association, Uterqüe, ValueClick, Vericast, VietinBank, Visa, Vivobarefoot, Vodafone, Volusion, Voucher Codes, Waitrose, Waldorf Astoria, Webtrends, WeChat, Weekday, Whole Foods Market, Wirecard, Wix, WooCommerce, World Economic Forum, Xiami, Yandex, Youku, Yoyo, Z Energy, Zara, Zendesk, Zinrelo, Zunny.

Data & Interactive Forecast

Juniper Research’s Digital Loyalty Programme forecast suite includes:
  • Forecasts for mobile and eCoupons split by
    • SMS
    • Email
    • Web
    • Apps
    • Desktop/Laptop Coupons
    • Chatbot Coupons
  • Forecasts for digital loyalty programme memberships.
  • Forecasts for credit card transaction volumes and values, split by:
    • Personal Credit Cards
    • Corporate Credit Cards
  • Interactive Scenario Tool allowing users to manipulate Juniper Research’s data for several different metrics.
  • Access to the full set of forecast data of more than 118 tables and over 14,000 datapoints.

Geographical splits: 11 countries

Harvest: Our online data platform, harvest, contains the very latest market data and is updated throughout the year. This is a fully featured platform enabling clients to better understand key data trends and manipulate charts and tables, overlaying different forecasts within the one chart - using the comparison tool. Empower your business with our market intelligence centre, and get alerted whenever your data is updated.

Interactive Excels (IFxl): Our IFxl tool enables clients to manipulate both forecast data and charts, within an Excel environment, to test their own assumptions using the Interactive Scenario Tool and compare selected markets side by side in customised charts and tables. IFxls greatly increase a clients’ ability to both understand a particular market and to integrate their own views into the model.

Forecast Summary

The value of global consumer credit card rewards will exceed $108 billion by 2026; rising from $92 billion in 2022. This 15% growth will be driven by an increase in the adoption of co-branded credit cards by retailers in order to boost repeat user engagement.

The research predicted that the global value of credit card rewards will increase, as consumers prefer their loyalty record in one place, instead of multiple apps or physical cards. The research recommended that merchants work closely with loyalty platforms to access this omnichannel approach, or risk losing market share to better-connected competitors.
The research found that the value of consumer credit card rewards in China will grow by 18% between 2022 and 2026; as consumer awareness of loyalty programmes rises in the digitally savvy Chinese population. Recently, Ascenda and Visa entered a partnership to roll out a customer loyalty solution for cross-border transactions to China, which the research predicted will fuel user engagement with loyalty programmes and drive growth. Given its digital leadership, the research recommended China as a favourable market to offer coalition-based loyalty programmes via credit cards.
The report found that the total value of personal credit card rewards will be triple that of corporate credit cards in 2026. While corporate cards are often used for travel purposes, this significantly reduced during the pandemic, with steady growth anticipated as the situation normalises. The research identified personal credit card reward programmes as being high value due to the highly competitive nature of the market, which has forced rewards values upwards. The research recommended that payment providers must enter into strategic partnerships with specifically desirable retailers or brands to exploit the full potential of credit card reward schemes, or they will fall behind more appealing alternatives.

Digital Loyalty Programmes Full Research Suite


Full Research Suite

  • Executive summary & core findings report (pdf)
  • Deep dive strategy & competition report (pdf)
  • Market data, forecasts and analysis report (pdf)
  • Market data, forecasts and interactivity (xls)
  • Quarterly updates to market data & forecasts (pdf, xls)
  • harvest market data platform (12 months’ online access) - find out more

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Latest market data forecasts and impact analysis. Delivered as PDF and interactive Excel

Research FAQs

Do loyalty programs increase sales?
How big is the coupon industry?
How big is the digital loyalty market?
What is the average coupon redemption rate?
What is the digital loyalty market growth?
What makes loyalty programs successful?

Research Details

Juniper Research
Harshada Thok
Key Vertical Markets
8 Key Regions - includes North America, Latin America, West Europe, Central & East Europe, Far East & China, Indian Subcontinent, Rest of Asia Pacific and Africa & Middle East
Canada, China, Denmark, Germany, Japan, Norway, Portugal, Spain, Sweden, UK, USA