, Singapore
Photo by Blake Wisz on Unsplash

How businesses can retain consumer loyalty

Research shows that loyalty programs can increase revenue from customs by 15%-25% annually.

Consumers are more likely to frequent businesses that reward them for their loyalty, but only if their loyalty programs are hassle-free.
According to payment company, Adyen more than half of consumers (66%) said they will shop with a business if their loyalty program worked automatically via their card.

Meanwhile, Adyen also found that several businesses (43%) still don’t have formal loyalty programs to reward customer loyalty. Those with loyalty programs rarely offer rewards that matter, according to 62% of consumers.
This is despite research showing that top-performing loyalty programs can increase revenue from customers by 15% to 25% annually.
“A great loyalty program rewards both the customer and the business, and a strong payments partner will help your business deepen the engagement with your customers," Adyen said.

"While customers get to enjoy perks on top of their purchases, businesses also unlock insights into their customers’ behaviors and preferences,” the company added.

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