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The “China Loyalty Programs Market Intelligence and Future Growth Dynamics Databook – 50+ KPIs on Loyalty Programs Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer Demographics – Q1 2022 Update” report has been added to ResearchAndMarkets.com’s offering.
Loyalty Programs Market in China is expected to grow by 13.5% on annual basis to reach US$ 17821.7 million in 2022
In value terms, the Loyalty Programs Market in China has recorded a CAGR of 13.7% during 2017-2021. The Loyalty Programs Market in China will continue to grow over the forecast period and is expected to record a CAGR of 13.0% during 2022-2026. Loyalty Programs Market in the country will increase from US$ 15702.3 million in 2021 to reach US$ 29105.5 million by 2026.
In the last two to three years, the e-commerce market experienced rapid growth in China, and along with the growth of the online market, the loyalty and rewards programs industry also surged significantly in the country. Notably, e-commerce platforms across different product categories started offering loyalty programs to gain increasing market share and revenue. These programs provided good results to e-commerce players when compared to western standards.
As the trend in online shopping continued to gain momentum during the last decade, the adoption of loyalty and rewards programs also gained widespread popularity in the country. This trend is expected to continue as global and local brands continue to seek loyalty and rewards programs as a differentiation factor in their strategy further.
In China, the rising adoption of loyalty and rewards programs from different industries is also driving market growth. From retailers to quick-service restaurants and airline providers are all offering loyalty and rewards programs to attract new customers while driving their growth in the country. Notably, global brands, such as KFC and Starbucks, have also launched their loyalty programs to compete with local…
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