Part
01
of two
Part
01
Australian Loyalty Programs-Trends
Current trends in the Australian loyalty programs space include integration with digital payment systems, socially responsible brands, customer engagement through artificial intelligence, personalization of consumer products, and increase of partnerships.
CURRENT TRENDS IN THE AUSTRALIAN LOYALTY PROGRAM SPACE
1. INTEGRATION WITH DIGITAL PAYMENT SYSTEMS
- Digital payment systems involve the transfer of money through electronic means, such as cards and mobile payment systems.
- One way to be successful with this integration is to permit the customers perform the selections themselves.
WHY IT IS TRENDING
- Integration with digital payment systems is a trend because it provides clients with the flexibility of paying with means that they are comfortable with.
- Also, it caters to those clients that like to avoid carrying any cash with them.
2. SOCIALLY RESPONSIBLE BRANDS
- Corporate social responsibility is a significant feature in loyalty programs that customers look for when they sign up for such programs.
- When clients are aware that they are spending their money on a trademark that in return, gives back to the community, they join such programs without hesitation.
- Socially responsible brands can guarantee success through customer involvement to their projects.
WHY IT IS TRENDING
- The emergence of socially responsible brands is trending because it helps build a trusting relationship between a brand and consumers, leading to positive social change, as well as customer loyalty.
3. CUSTOMER ENGAGEMENT THROUGH AI
- Automation has resulted in the rapid processing of orders online, as well as customers acquiring answers promptly without human interaction.
- Automation can help to develop safer jobs as machines perform the heavy machinery work, which is risky to male workers.
- One way to sustain and retain customer engagement is through innovation.
WHY IT IS TRENDING
- Customer engagement through artificial intelligence is a trend because it has the capacity to increase revenue for brands.
4. PERSONALIZATION OF CONSUMER PRODUCTS
- According to Marketing Land, clients desire to feel unique to the brand in which they express their loyalty to.
- Personalization refers to moving from a broad target audience to a single one that is very specific and supported by credible data.
- One brand-new method is to guarantee that the information is communicated to the target audience at the right time and through the correct device.
- The active participation of customers is a crucial feature that can ensure the personalization of consumer products is successful.
WHY IT IS TRENDING
- The personalizaton of consumer products is trending because personalization engages consumers, prompting sales.
5. INCREASE OF PARTNERSHIPS
- To continue operating adequately and remain relevant, brands partner with other labels to ensure they avoid losing their existing customers.
- Partnerships supply a basis of building brand-new clientele.
- Innovation is an excellent feature that helps brands to assure that partnerships are effective and successful.
WHY IT IS TRENDING
- The expansion of partnerships between trademarks is trending because it increases both the revenue and volume of customers for the brands involved in the merger.
Research Strategy:
Customers sign up for loyalty programs from which they can obtain benefits. The perks might include discounts, cash backs and earning of points for every dollar received. In the Australian loyalty program space, the rules do not change.
To identify the current trends in the Australian loyalty program space, we scoured through credible industry reports and blogs from publications such as Forbes, Marketing Land, Alpha Beta, and Inside Retail, among others. We also looked at companies such as Woolworths and Cole's Flybuys to get a better feel of the brands in Australia.
Based on these resources, we came across some trends in the Australian loyalty program space, which include integration with digital payment systems, socially responsible brands, customer engagement through artificial intelligence, personalization of consumer products, and increase of partnerships.
We have identified these trends as currently "trending" based on its repetition as a trend across two or more reports. Next, we focused on the new features that programs are testing with customers and new ways to be successful with these programs.