Market Overview

Loyalty Management Programs are Spreading to New Industries


Loyalty Management Programs are Spreading to New Industries News Commentary

PR Newswire

NEW YORK, July 6, 2018 /PRNewswire/ --

According to data compiled by MarketsandMarkets, the loyalty management market is projected to increase from USD 1.68 Billion in 2016 to USD 4.59 Billion by 2021, while growing at a CAGR of 22.2% during the forecast period. The loyalty management sector is expected to see the highest CAGR in the manufacturing segment. Many companies set out to differentiate themselves from competitors in their sectors by offering reward programs, this strategy being the largest market driver for the industry. Other drivers include increasing customer loyalty, change in consumer demographics, rising rates of mobile technologies and the growing number of cardholders. Snipp Interactive Inc. (OTC:SNIPF), AMC Entertainment Holdings Inc. (NYSE:AMC), BJ's Wholesale Club Holdings Inc. (NYSE:BJ), Groupon Inc. (NASDAQ:GRPN), Sprint Corporation (NYSE:S).

Loyalty management helps businesses and companies retain customer loyalty against competitors. Reward programs also establish a long-lasting relationship between businesses and their consumers, which make customers more inclined to return back. It's projected the manufacturing industry will adopt loyalty management to bolster its customer's experience from point of purchase to post-purchase services. "From our experience, almost all retailers who generate some kind of repeat business have the opportunity to boost their ROI and profitability by increasing the retention of their customers." said Chris Luo, VP of Marketing of Loyalty Technology company, FiveStars. "Loyalty programs are proven to increase customer lifetime value by up to 30% or more by increasing visit frequency, increasing spend per visit, and winning back lost customers."

Snipp Interactive Inc. (OTCQB:SNIPF) is also listed on the TSX Venture Exchange under the ticker (TSX-V: SPN). Earlier this week, the Company announced that it, "has received a six-figure contract from a leading manufacturer of firearms, a new Snipp client. The Customer is a leading provider and manufacturer of firearms and is known for their industry-leading quality and innovation. Their world-renowned products are the weapons of choice for many of the premier global military, law enforcement and responsible commercial users.

The signed agreement, formally establishes Snipp as a preferred B2B loyalty solutions and reward fulfillment services supplier for the Customer. Under the terms of the agreement, Snipp will develop a highly customized B2B loyalty program, aimed at encouraging trade engagement and loyalty, on its SnippLoyalty enhanced platform, for store associates to be able to earn points to redeem branded merchandise. The agreement marks the first of two phases, with a B2C platform to be planned and launched in 2019."

"We are very pleased to have signed an agreement with this new Customer, recognized as the leader in their segment, are proud to have been selected based on our experience and ability to incorporate many of their custom requirements and workflows, a testament to the performance and efficiency of our technology platform and marketing solutions," commented Atul Sabharwal, CEO and Founder of Snipp. "Snipp has successfully run multiple programs in the B2B segment and this agreement marks the second deal we've signed in this industry segment, another validation of the Snipp suite of solutions. We will continue to build on our platform and look forward to incentivize, drive engagement and built loyalty for the client through this program."

Also, this week Snipp announced that it, "has received an evergreen MSA (master service agreement) contract from a leading global CPG (consumer packaged goods) company after more than three years of Snipp's solutions being audited, screened and trialed by this CPG. A member of the Global Fortune 100, the client is one of the largest food and beverage companies in the world by revenue (with over 2,000 brands across 189 countries).

The signed agreement covers a range of brands across categories from this client's large portfolio of consumer goods in the United States and Canada, and formally establishes Snipp Interactive as a preferred promotion marketing administration and fulfilment services supplier for the client's range of shopper marketing, promotion and rebate solutions.

Snipp Interactive has successfully run multiple programs for this client over the last few years in the food, baby and pet care categories across the SnippCheck, SnippRewards and SnippLoyalty platforms. In addition to periodic marketing promotions, Snipp Interactive has also managed a loyalty rewards program for one of the customer's pet care brands."

"We have been seeking this qualification from this client since 2015. Finally, after years of hard work and effort, we have finally been awarded a licence to work freely across the entire portfolio of brands for this client. We are proud that an industry leader that is one of the most respected companies in each of its many consumer product categories has selected us after years of testing and evaluating our solutions. Over the last few years, we have launched a number of unique and successful programs in the CPG industry, so this new designation as a preferred supplier reflects our growing reputation as an effective and trusted partner for Fortune 500 companies and their brands," commented Atul Sabharwal, chief executive officer and founder of Snipp Interactive. "Each time that we expand a contract with a major multibrand client, we unlock more access and exposure across that client's brand universe. We are thankful for this vote of confidence and look forward to deploying our expertise across this client's extensive portfolio of brands as our relationship expands not only in North America, but also globally."

AMC Entertainment Holdings Inc. (NYSE:AMC) is the largest movie exhibition company in the U.S., in Europe and throughout the world with more than 1,000 theatres and 11,000 screens across the globe. Recently, the Company announced that AMC Stubs, the Company's loyalty program, has grown approximately six-fold since its relaunch nearly two years ago, from approximately 2.5 Million household members then to more than 15 Million household members now. At the U.S. average of 2.6 people per household, that means valuable AMC Stubs points have been accumulated by nearly 40 Million frequent American moviegoers. Crossing well beyond the 15 Million household member mark coincides with the launch of the new AMC Stubs A-List, which at first blush is playing to considerable interest amongst casual and frequent moviegoers. Through AMC Stubs A-List, members can enjoy all available showtimes up to three times per week, at all AMC theatre locations in the United States, in all of AMC's normal and premium formats -- including IMAX at AMC, Dolby Cinema at AMC, RealD 3D, Prime at AMC and BigD.

BJ's Wholesale Club Holdings Inc. (NYSE:BJ) is the leading operator of membership warehouse clubs in the Eastern United States. The Company currently operates 215 clubs and 133 BJ's Gas® locations in 16 states. In May, the Company announced an updated website featuring convenient new services like Shop - Pick Up in Club as well as the ability to add digital coupons to select online orders. BJ's members will have the added convenience of making a purchase on and picking it up in any one of BJ's 215 clubs in as little as two hours. Members will have access to thousands of items through Shop - Pick Up in Club to make their shopping trip easier. Add-to-Card Coupons that were previously only available to use in club will now be able to be applied to Shop - Pick Up in Club orders and orders placed on Members can select coupons at to add digitally to their card and the savings will be automatically applied at checkout on or in club.

Groupon Inc. (NASDAQ:GRPN) is building the daily habit in local commerce, offering a vast mobile and online marketplace where people discover and save on amazing things to do, see, eat and buy. In May, the Company announced it has acquired Cloud Savings Company, Ltd., parent company of online discount code platform Vouchercloud and brand loyalty provider Giftcloud, at an enterprise value of USD 65 Million. Giftcloud is at the forefront of the digital gift card market, launching in 2014 as Europe's first entirely digital gifting app and website, allowing users instant access to digital gift cards while also providing businesses with a fully digital rewards and loyalty solution. The business now works with some of the UK's biggest brands to deliver bespoke campaigns based on acquisition, loyalty and retention.

Sprint Corporation (NYSE:S) is a communications services company that creates more and better ways to connect its customers to the things they care about most. In May, the Company announced it joined forces with Telemundo Deportes as the halftime sponsor of Telemundo's Spanish-language coverage of the 2018 FIFA World Cup Russia™. To celebrate, Sprint is unveiling a new Fútbol Mode campaign ensuring customers are connected to world-class soccer content virtually anytime and anywhere, even during work hours which is a majority of when this summer's games are scheduled. Through the Sprint Network built for Unlimited, customers will be able to stream soccer content in high-definition, on-the-go. Additionally, Sprint is providing travelers a sweet treat with a distinctively international flavor. With Sprint Global Roaming2 customers can stay connected while in Russia with free text, free voice, and free high-speed data.

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