Strategy Briefing

Loyalty at a Digital Crossroads: What Travel Brands Need to Prepare for

30 pages, Sep 2017

US$1,325

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About This Report

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If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

Loyalty is on the verge of major disruption with technology like mobile and blockchain forcing the traditional loyalty models to adapt and become dynamic. Companies need to adapt to meet the challenges and opportunities from new technology so that they remain relevant in an ever-saturated market by focusing on the customer experience. This report looks across the travel industry, and beyond, to see how brands are shaping up to meet future challenges in the loyalty space.

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Overview

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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

Consumer fatigue

The average consumer is struggling with loyalty fatigue, facing the challenge of pervasive loyalty programmes that are overly complicated to use. Bar enthusiasts that thrive on the challenge of points collection, rewards and redemption, the majority see loyalty as a major pain point that they tolerate simply for the deals.

Redefining loyalty

Loyalty is in a process of flux due to new technology and changing consumer values. It is increasingly vital to view loyalty as part of the overall customer experience framework building a long-lasting customer relationship.

Broken business model

The current business model is distinctly flawed and clunky, with each loyalty scheme tending to exist in silo or within the confines of a coalition. It is critical for brands to view loyalty as part of the process of providing a seamless, enhanced customer experience that is delivered in real time and is context specific.

Dynamically packaged

A move towards dynamic loyalty will be brought about by new technology such as blockchain, where data will be portable, allowing unique interactions with any brand. Consumers will be able to receive benefits across different loyalty schemes and verticals, breaking down traditional barriers to rewards.

Future to the power of one

Technology such as voice, augmented reality and emotion recognition software will further speed up the shift towards personalised and targeted brand loyalty interactions, using deep learning to monitor and measure consumers’ reactions to adapt rewards, offers, experiences and discounts based on user response.

Fintech fest

Disruption will happen outside the travel industry, and this is why it is important for travel brands to work closely with consumer finance companies, and keep an eye on fintech funding and disruptive technology developments.

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Megatrends

Strategy Briefing

Loyalty at a Digital Crossroads: What Travel Brands Need to Prepare for

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

Consumer fatigue

Redefining loyalty

Broken business model

Dynamically packaged

Future to the power of one

Fintech fest

Want to find out more about this report?

Table of Contents

Introduction

Scope

Key findings

Loyalty Through an Experience Lens

Loyalty a critical component of the Experience More framework

Loyalty must been seen through an Experience More lens

Pervasive and complex: Loyalty schemes lead to high levels of confusion

Loyalty membership is no longer a game-changer

Path to Redemption

Potential travel loyalty universe is ever-expanding

Mobile - paving the way for increased real-time loyalty interactions

Mobile devices provide an integrated platform for payments

Online is a major touchpoint but do not write off offline

Consumers rate simplicity, while complexity kills loyalty

Complex Path to Redemption leads to under-performance

Brand Best Practice

Key takeaways from leading brands active in loyalty

Marriott: Loyalty programmes linked and soon to be merged

Southwest: Mobile apps make life easier for consumers

Mastercard: Adding value to its brand through experiences

Sephora: Best-in-class experiential retailer creates daily emotional attachment for life-long loyalty

O2 Priority offers exclusive back-stage access

Amazon Prime marked a new dawn for loyalty

Future Vision

AI and machine learning will improve loyalty adoption

Emotion recognition software will sharpen the loyalty experience

Blockchain’s disruptive force will unchain loyalty for consumers

Loyyal and blockchain poised to cause mass disruption

The future of loyalty rests on inter-operability and dynamic rewards

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