The Loyalty Report 2021 flips the loyalty script and reveals that brands need to focus on their customers, as only 20% feel that brands are loyal to them; Top programs and breakaway leaders; immediately actionable opportunities to drive brand loyalty in a changed world
TORONTO and NEW YORK, July 20, 2021 (GLOBE NEWSWIRE) — Bond, a leading global customer experience, engagement, and loyalty management firm, launches The Loyalty Report 2021 today. This year’s data set quantifies the rapid acceleration of consumer shifts that Bond previously identified pre-COVID-19 and the actionable insights Brand leaders—and challengers—need to act on now and going forward.
After a decade, plus one very unusual year, The Loyalty Report 2021 identifies the key metrics that are the strongest predictors of higher share of wallet from customers: “I am loyal to the program” (29% of consumers strongly agree) and “I am loyal to the brand” (30% strongly agree), as well as a new variable grounded in relationships: “brand is loyal to me” (only 20% strongly agree). The measure is based on the notion of “customership,” which recognizes that customer-centricity translates to customer loyalty when the Brand shows loyalty to the customer, rather than the legacy paradigm of Brands expecting customers to show loyalty to them first.
Bond sees this aspect of customership as a key requirement for brands in the post-pandemic era. For the decade ahead, Brands must aim to become recognized by their Members as a Loyalty Brand—one that is familiar, rewards them more, and is rooted in reciprocity.
“After a year unlike any other, we’re excited as The Loyalty Report 2021 provides a clear blueprint for Brands looking to lead or challenge the leaders amid the new loyalty paradigm,” says Phil Rubin, Executive Vice President, Global Insights & Strategic Partnerships, Bond. “Brand leaders need to drive profitable growth and being a loyalty brand and delivering loyalty-focused customer experiences is the most direct way to achieve that. This year’s report separates the leaders and challengers from the laggards and more importantly, extends the insights into action that clearly separates the winners from the losers.”
Produced in partnership with Visa, The Loyalty Report is the industry’s most comprehensive and longest-standing study of its kind on customer engagement, loyalty attitudes, behaviors, drivers, and market dynamics. This year’s report features an assessment of 450 loyalty programs by more than 25,000 North American consumers across a range of key sectors, including payments, retail, grocery, delivery, gas, dining, hotel, airline, coalition, and more.
According to US consumers, the top three programs in key categories are:
Dining and QSR: 1) Chick-Fil-A One 2) McDonald’s Mobile App 3) Starbucks Rewards
Delivery (new): 1) Uber Eats Pass* 2) Postmates Unlimited 3) FedEx Delivery Manager
Retail: Apparel: 1) adidas Creators Club* 2) Foot Locker FLX Rewards 3) Athleta Rewards
Grocery: 1) H-E-B Points Club Rewards 2) Food Lion MVP Program 3) Kroger Plus Card
Hotel: 1) Accor Live Limitless* 2) Marriott Bonvoy Rewards 3) Best Western Rewards
The top performers are based on Members’ agreement with the statement: I am loyal to the program. Breakaway leaders* are programs that hold a 5% or higher lead over the next highest performer.
According to Canadian consumers, some of the top loyalty programs, based on their loyalty to the program, include PC Optimum, Hudson’s Bay Rewards, Sephora Beauty Insider, and SCENE.
Loyalty continues to have positive outcomes for Brands, and the impact on advocacy, retention, and spend (or “say,” “stay,” “spend”) is on the rise.
73% of Members are more likely to recommend Brands with good Loyalty Programs (+1% from early 2020); 80% say programs make them more likely to continue doing business with Brands (+2%); and 68% modify the amount they spend to maximize the benefits they receive (+4%).
To view and download a copy of the US and Canadian Executive Summaries, including top program rankings across key categories, click here.
Register for the Loyalty Report 2021 webinar with The Wise Marketer
On Wednesday, Aug 11th at 1 p.m. ET, Bond experts will walk through detailed report findings and share actions and opportunities for marketers. To learn more and register, click here.
Bond Brand Loyalty solves complex customer challenges with a unique blend of human-centered design, data science, and loyalty mechanics that transforms how brands win, serve, and keep customers. Working globally with iconic brands, Bond designs, builds, and operates digital and human experiences that create measurable, authentic, and long-lasting relationships through a combination of solutions that includes customer experience design, loyalty consulting and management, CRM and digital marketing, research and analytics, channel and employee engagement, and program technology and platforms. For more information, visit bondbrandloyalty.com, follow Bond on LinkedIn and Twitter, or connect by phone at 1-844-277-2663.
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Bond Brand Loyalty