Why SA’s loyalty programmes are among the best in the world?
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GUEST – Amanda Cromhout - CEO of Truth Cell
The loyalty industry is growing in leaps and bounds in South Africa after the explosion of more retailers offering these in the last four years, and more consumers are taking these up to either save or get money back to help with increases for basic necessities.
The loyalty industry refers to store cards that bulge our wallets, from the likes of Clicks, Pick n Pay, Checkers and other big retailers and banks, that we use to save a buck, get petrol or get cash back. As consumers have been faced with increasing costs for their basic needs, the use of these cards or programmes has climbed from 67% in 2015 to 73% in 2022.
The loyalty programme market is expected to increase from US$450.4 million (R8.72bn) in 2021 to reach US$857.3 million (R16.12bn) by 2026, according to the first quarter of 2022 Global Loyalty and Rewards Market Survey.
The loyalty industry is growing in leaps and bounds in South Africa after the explosion of more retailers offering these in the last four years, and more consumers are taking these up to either save or get money back to help with increases for basic necessities.
The loyalty industry refers to store cards that bulge our wallets, from the likes of Clicks, Pick n Pay, Checkers and other big retailers and banks, that we use to save a buck, get petrol or get cash back. As consumers have been faced with increasing costs for their basic needs, the use of these cards or programmes has climbed from 67% in 2015 to 73% in 2022.
The loyalty programme market is expected to increase from US$450.4 million (R8.72bn) in 2021 to reach US$857.3 million (R16.12bn) by 2026, according to the first quarter of 2022 Global Loyalty and Rewards Market Survey.
