The Importance of Customer Loyalty Programs – Statistics and Trends

• Posted in Infographics

Did you know 61% of retailers cite customer retention as their biggest obstacle and a 5% increase in customer loyalty can increase the average profit per customer by 25% – 100%.   Around 58% of respondents buy from these stores and brands whose loyalty programs they belong to at least once a month.

69% of consumers say choice of retailer is influenced by where they can earn customer loyalty/rewards program points whereas 57.4% of consumers join loyalty programs to save money, 37.5% to receive rewards. Check out our latest infographic to understand the importance of customer loyalty programs and how they influence consumer purchase decisions.

Infographic by- Invesp Conversion Rate Optimization Consuting

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<a href=”https://www.invespcro.com/blog/images/blog-images/customer-loyalty-programs.jpg”><img src=”https://www.invespcro.com/blog/images/blog-images/customer-loyalty-programs.jpg” alt=”Why customer loyalty programs are important” width=”580″></a></p><br /><br /><br /><br /><br /> <p>Infographic by- <a href=”https://www.invespcro.com/”>Invespcro.com</a>

64% of retailers say their loyalty/rewards program is the best way to connect with consumers

50% of consumers changed their behavior to reach a higher tier within a loyalty program

On average, loyal customers are worth up to 10x as much as their first purchase.

The average repeat customer spends 67% more in their 31st to 36th months of their relationship with a business than in months 0-6.

49% of consumers agree they spend more after having joined a loyalty program

76% of consumers think that loyalty programs are a part of their relationship with brands

83% said loyalty programs make them more likely to continue doing business with certain companies.

74% of travel customers surveyed have made purchasing decisions based on travel reward programs.

67% of customers said surprise gifts are very important for loyalty programs

55% of millennials claim to be more brand loyal today, compared to 39% of consumers in the 35-and-older group