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India Loyalty Program Market

India Loyalty Program Market by Program Type, End User, Consumer Orientation, Vertical & Region - Forecast 2022 - 2031

Market Insights on India Loyalty Program covering sales outlook, demand forecast & up-to-date key trends

India Loyalty Program Market Outlook (2022-2031)

[200 Pages Report] The India Loyalty Program market is estimated to top nearly US$ 2,922.9 Mn in 2022 and is projected to reach US$ 10,852.6 Mn by 2031 at a CAGR of ~15% from 2022 to 2031. The India loyalty program market holds approximately 4%-8% in the global loyalty program market.

Attribute

Details

Estimated India Loyalty Program Market Size 2022

US$ 2,922.9 Mn

Projected India Loyalty Program Market Size (2031)

US$ 10,852.6 Mn

Value CAGR (2022-2031)

15%

India Loyalty Program Market Top Players Share in 2021.

~1%-5%

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2016-2021 India Loyalty Program Market Outlook Compared to 2022-2031 Forecast

Loyalty programs are one of the marketing strategies that several retailers and companies have adopted to attract and retain their customers and channel partners. Through these programs they offer them additional benefits and encouraging them to spend more money.

India Loyalty Program Market Report Brochure

Loyalty programs offer rewards, points, discounts, and other special incentives designed to increase revenue and inspire customer loyalty. This helps companies develop a strong repeat consumer base.

The loyalty program market is a superset of the loyalty management market, which includes software and services (professional services and managed services). On account of these factors, Indian loyalty program market registered a growth rate of 18% during the historic period (2016-2021).

What are the Factors Driving Demand in India Loyalty Program Market?

Loyalty programs play a crucial role in reducing overall operational costs. Organizations are focusing more on escalating repeat purchases instead of investing more in marketing activities to acquire a new consumer base.

Hence, organizations are more focused on maintaining the repeat purchase rate instead of investing more in marketing activities to acquire new channel partners. The organizations are currently focused on strengthening their repeat purchase rate.

Thus strengthening the repeat purchase rate is one of the prominent factor driving enterprises to switch towards loyalty programs.

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How will Adoption of AI to Offer Personalized Rewards to Channel Partners Benefit Market?

Industry experts today largely believe that many of the industry sectors are steadily marching towards personalization. In the past few years, adoption of AI (artificial intelligence) to create a more personalized experience is gaining popularity.

Creating user profiles has helped the players gain information to personalize incentives that are likely to be considered more effective than generalised incentives. Another way of using AI (artificial intelligence) is to incentivize the channel partners by logging in their purchase records. This feature can help the organization to completely analyse the purchase behaviour of channel partners in detail at different levels or tiers.

Category-wise Insights

Which Program Type will Dominate the India Loyalty Program Market?

“Combination of Point-Based and Pre-Decided Loyalty Program to be the Most Preferred”

In terms of program type, combination of point-based and pre-decided loyalty programs account for a notable share of 64.8% in India loyalty program market. However, point-based loyalty programs held a significant share in 2020 as points are easy to earn and easy to redeem. Channels can redeem points for credit toward their next purchase, discounted services, or giveaways.

Which Consumer Orientation Will Remain Highly Sought-After in India Loyalty Program Market?

“Need for Sales Incentives to Boost the India Loyalty Program Market”

In terms of consumer orientation, sales incentives segment is expected to dominate the market owing to increase in profits, improves sales success and allows sustainable growth. A well-designed and well-executed loyalty program helps in retaining existing customers, attract new customers, reduce turnover and drive profits. However, employee rewards and channel incentives will account for significant market share of 17.7%, and 10.2%, respectively.

Which is the Leading End User in India Loyalty Program Market?

In terms of end-user, large enterprises segment will account for a notable share in the India loyalty program market. However, a significant share of B2B small and medium enterprises segment witness steady growth over the forecast period, estimates Future Market Insights (FMI).

Based on vertical, others segment including aviation, hospitality, BFSI, healthcare, education and IT & telecom is expected to hold lion’s share in the market.

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Competitive Landscape

Prominent players in the India loyalty program industry are adopting various strategies to survive high level competition. Meanwhile, other players in the market are adopting strategies such as mergers and product launches to gain competitive edge in the industry.

Scope of Report

Attribute

Details

Forecast Period

2022-2031

Historical Data Available for

2016-2021

Market Analysis

US$ Million for Value

Key Region Covered

South Asia

Key Country Covered

India

Key Segments Covered

Program type, Consumer Orientation, End-User and Vertical

Key Companies Profiled

  • One Loyalty
  • ChannelPlay Ltd.
  • REWARDPORT
  • Evovle Brands
  • Slingloft
  • Others (As Per Request)

Industry-Wise Key manufacturers in Different Industries

  • Automobile
    • Maruti Suzuki India Ltd
    • Hero MotoCorp Ltd.
    • Hero Electric
  • Cement
    • UltraTech Cement Ltd
    • Ambuja Cement
  • Electronics & Electricals
    • Havells India Ltd.
    • Bosch India
  • Laptop
  • Luxury Brands
    • Jaguar
    • GUCCI
  • Mobile Phones
    • Xiaomi
    • Samsung
  • Paint
    • Asian Paints
    • Berge
  • Tyre
    • MRF
    • Apollo
  • Watches
    • Titan
    • Casio

Report Coverage

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Customization & Pricing

Available upon Request

India Loyalty Program Market by Category

By Program Type:

  • Point-Based Loyalty Program
  • Pre-Decided Loyalty Programs
  • Combination of Point-Based and Pre Decided Loyalty Programs

By End User:

  • Small& Medium Enterprises
  • Large Enterprises

By Consumer Orientation:

  • Employee Rewards
  • Sales Incentives
  • Channel Incentives

By Vertical:

  • Automobiles
  • Cement
  • Electronics & Electricals
  • Laptops
  • Luxury Brands
  • Mobile Phones
  • Paints
  • Tyres
  • Watches
  • Others

Frequently Asked Questions

The India market reached a valuation of US$ ~ 2,546.7 Mn in 2021.

The India loyalty program market grew at an 18% CAGR between 2016 and 2021.

Influencer programs, software ability to measure breakage, growing demand for first-party data, etc. are driving the market of loyalty programs in India.

Leading players operating in the India Loyalty Program market are OneLoyalty, ChannelPlay Ltd., REWARDPORT, EVOLVE Brands, SlingLoft and Others.

The market of India Loyalty Program is projected to grow at a 15% CAGR over the forecast period.

Table of Content

1. Executive Summary

    1.1. India Market Outlook

    1.2. Summary of Key Findings

    1.3. Summary of Key statistics 

    1.4. FMI Analysis and Recommendations

2. Market Overview

    2.1. Market Taxonomy

    2.2. Market Definition

3. Loyalty Program- Why does it Matter?

    3.1. Extending Relationship with Brands- Customer Retention

    3.2. Marketing Strategy Design to Incentivize Future Purchase

    3.3. A Loyalty Program Will Reduce Marketing Costs

    3.4. Rewards Customers Through- Point System, Membership Card, and Others

    3.5. Others

4. Features/Benefits Associated with Loyalty Program

    4.1. Better Customer Retention

    4.2. More Customer Referrals

    4.3. Build Brand Advocacy & Empower Your Channel Partners

    4.4. Surges the Billing Value of Distributors and Suppliers

    4.5. Makes Stakeholders Recognize The Brand When Think of Buying A New Product

    4.6. Makes Suppliers & Distributors Your Brand Advocates To Generate More Sales

    4.7. Assigns Targets To The Sales Team and Rewards Them With Points & Offers

    4.8. Cost-Efficacy

    4.9. User-Generated Content and Reviews

5. Strategies to Create Effective Loyalty Program

    5.1. Select the qualified channel partner

    5.2. Estimate the need for training

    5.3. Set goals and frame responsibilities

    5.4. Wisely choose the right platform

    5.5. Regular communication with the partners

6. Loyalty Program Industry- Experts Key Insights

    6.1. Which industry does your company fall under?

    6.2. Please select from the below options how many channel partners you are dealing with? (Including Dealers & Retailers) 

    6.3. Who are your end users for loyalty programs/sales schemes? (*Please rate the following categories on a scale of 1 to 5, with 1= Least Preferred and 5= Most Preferred)

    6.4. Are you offering any kind of sales schemes to your channel partners?

        6.4.1. If yes, what is the duration of your sales schemes?

        6.4.2. Which type of sales schemes are you offering?

    6.5. Are you offering any kind of loyalty programs to your channel partners?

        6.5.1. If yes, what is the duration of your programs?

        6.5.2. Which of the following loyalty programs does your company offer?

            6.5.2.1.  If point-based, which type of privileges does your company offer?

            6.5.2.2.  If pre-decided, which type of privileges does your company offer?

    6.6. How much you are investing in your loyalty programs for channel partners?

    6.7. How many channel partners are you offering loyalty programs to?  

    6.8. How are your dealers/channel partners acquiring points?

    6.9. Does your company use any loyalty program tool/software?

        6.9.1. If yes, which mode of tool/software are you using?

        6.9.2. If you are using an online tool, which type of tool/software it is?

        6.9.3. In Which features are most important to you when choosing a tool/software/user interface?(*You can select multiple options from the below categories)

        6.9.4. What type of reports you expect from a loyalty program tool/software?

    6.10. What are the challenges you encounter in your loyalty programs? (*You can select multiple options from the below categories)

    6.11. Are you looking for any loyalty program management agency offering a robust and tech based loyalty program solutions?

    6.12. What do you expect from a robust loyalty program?

    6.13. What are the most important purposes for you while offering a loyalty program? (*Please select the top 3 options from the below categories)

    6.14. Which of the following modes of communication do you prefer to interact with your channel partners? (*You can select multiple options from the below categories)

    6.15. Which of the below-mentioned categories are the most preferred way for collecting feedback from channel partners?

    6.16. Please select the top five privileges most preferred by your channel partners?

    6.17. Have you created any tiers for your dealers?

        6.17.1. If yes, how many tiers?

        6.17.2. If yes, how have you made the tiers?

    6.18. What are your basis of enrolment for channel partner loyalty programs?

7. India Loyalty Program Market Demand (in Value or Size in US$ Mn) Analysis 2016-2021 and Forecast, 2022-2031

    7.1. Historical Market Value (US$ Mn) Analysis, 2016-2021

    7.2. Current and Future Market Value (US$ Mn) Projections, 2022-2031

        7.2.1. Y-o-Y Growth Trend Analysis

        7.2.2. Absolute $ Opportunity Analysis

8. Key Market Trends & Opportunities

    8.1. Loyalty Program Providers More Interested in At-A-Glance Views

    8.2. Survey Inclusion an Add-On to Understand Channel Partners’ Reaction & Views on Loyalty Program

    8.3. Globalization Impacting Lifestyles

    8.4. Introducing Loyalty Programs Considering the Tier Wise Classification of Channel Partners

    8.5. Necessary App Features Highly Preferred

    8.6. Query Manager: Another Necessary Feature

    8.7. Incorporation of Geo-Notifications Promoting Higher Efficiency

    8.8. Incorporation of Testimonials

    8.9. Endorsements

    8.10. Addressing Complaints, Accepting Solutions

9. Fast Facts – Loyalty Programs in India

    9.1. Brand is Increasingly at the Core of Experience 

    9.2. Type of Loyalty Programs Implemented by Sector

        9.2.1. Electronics and electrical

        9.2.2. Automobile Manufacturing

        9.2.3. Tyre

        9.2.4. Cement

        9.2.5. Paint

        9.2.6. Watches

        9.2.7. Laptops

        9.2.8. Mobile Phones

        9.2.9. Luxury Brands 

        9.2.10. Others

    9.3. Loyalty Programs Continue to Heavily Influence Member advocacy, retention and spend – The Impact 

    9.4. Top Drivers for Member Satisfaction 

        9.4.1. Program Meets Needs 

        9.4.2. Enjoy Participating In Program 

        9.4.3. Program Rewards/Benefits Appealing 

        9.4.4. Program Consistent With Brand Expectations 

        9.4.5. Program Makes Brand Experience Better

    9.5. Forecast Factors- Relevance & Impact

        9.5.1. Top Companies Historical Growth

        9.5.2. Number of Business/Companies Outlook

        9.5.3. Total Revenue By Industry Outlook

        9.5.4. Retail Industry Outlook

        9.5.5. GDP Growth Outlook

        9.5.6. Others

    9.6. PESTLE Analysis of India Loyalty Program Market

    9.7. Porter’s Five Forces Analysis of India Loyalty Program Market

    9.8. Market Dynamics

        9.8.1. Drivers

        9.8.2. Restraints

        9.8.3. Opportunity Analysis

10. India Loyalty Program Market Analysis 2016-2021 and Forecast 2022-2031, by Program Type 

    10.1. Introduction / Key Findings

    10.2. Historical Market Size (US$ Mn) Analysis By Program Type, 2016 - 2021

    10.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Loyalty Program Type, 2022 - 2031

        10.3.1. Points Programs

        10.3.2. Cash Back Loyalty Programs

        10.3.3. Punch Card Programs

        10.3.4. Tiered Loyalty Programs

        10.3.5. Coalition Loyalty Programs

        10.3.6. Premium Loyalty Programs

        10.3.7. Hybrid Loyalty Programs

    10.4. Market Attractiveness Analysis By Program Type

11. India Loyalty Program Market Analysis 2016-2021 and Forecast 2022-2031, by End User

    11.1. Introduction / Key Findings

    11.2. Historical Market Size (US$ Mn) Analysis By End User, 2016 - 2021

    11.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By End User, 2022 - 2031

        11.3.1. B2B (Business-to-Business)

            11.3.1.1. Small and Medium Enterprises

            11.3.1.2. Large Enterprises

        11.3.2. B2C (Business-to-Customers)

    11.4. Market Attractiveness Analysis By End User

12. India Loyalty Program Market Analysis 2016-2021 and Forecast 2022-2031, by Consumer Orientation

    12.1. Introduction / Key Findings

    12.2. Historical Market Size (US$ Mn) Analysis By Consumer Orientation, 2016 - 2021

    12.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Consumer Orientation, 2022 - 2031

        12.3.1. Employee Rewards

        12.3.2. Sales Incentive 

        12.3.3. Channel Incentives 

        12.3.4. Customer Rewards

    12.4. Market Attractiveness Analysis By Consumer Orientation

13. India Loyalty Program Market Analysis 2016-2021 and Forecast 2022-2031, by Vertical

    13.1. Introduction / Key Findings

    13.2. Historical Market Size (US$ Mn) Analysis By Vertical, 2016 - 2021

    13.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Vertical, 2022 - 2031

        13.3.1. Automobiles

        13.3.2. Cements’

        13.3.3. Electronics & Electricals

        13.3.4. Laptops

        13.3.5. Luxury Brands

        13.3.6. Mobile Phones

        13.3.7. Paints

        13.3.8. Tyres

        13.3.9. Watches

        13.3.10. Others

    13.4. Market Attractiveness Analysis By Vertical

14. Potential of B2B Customer Loyalty Programs

    14.1. Benefits of B2B Loyalty Programs

        14.1.1. Growing top-line revenue and improving profit margins

        14.1.2. Reducing costs and raising customer satisfaction

        14.1.3. Promoting digital engagement and generating valuable customer data

    14.2. Actions for Making B2B Loyalty Work

        14.2.1. Dig deeper to understand your business buyers

        14.2.2. Identify and encourage optimal customer behaviors

        14.2.3. Design your program to be simple

        14.2.4. Create the best possible customer experience

        14.2.5. Lead with digital

15. Competition Analysis

    15.1. Competition Dashboard

    15.2. Competition Benchmarking

    15.3. Competition Deep Dive 

        15.3.1. One Loyalty

        15.3.2. Channelplay Limited

        15.3.3. REWARDPORT

        15.3.4. Evolve Brands

        15.3.5. Slingloft

    15.4. Industry-Wise Key Manufacturers in Different Industries

        15.4.1. Automobile manufacturing (e-scooters, 2 and 4 wheelers)

            15.4.1.1. Maruti Suzuki India Ltd

            15.4.1.2. Hero MotoCorp Ltd.

            15.4.1.3. Hero Electric

        15.4.2. Cement

            15.4.2.1. UltraTech Cement Ltd

            15.4.2.2. Ambuja Cement

        15.4.3. Electronics and Electrical

            15.4.3.1. Havells India Ltd

            15.4.3.2. Bosch India

        15.4.4. Laptop

            15.4.4.1. Hewlett-Packard

            15.4.4.2. Lenovo

        15.4.5. Luxury Brands

            15.4.5.1. Jaguar

            15.4.5.2. Gucci

        15.4.6. Mobile Phones

            15.4.6.1. Xiaomi

            15.4.6.2. Samsung

        15.4.7. Paint

            15.4.7.1. Asian Paints

            15.4.7.2. Berge

        15.4.8. Tyre

            15.4.8.1. MRF

            15.4.8.2. Apollo

        15.4.9. Watches

            15.4.9.1. Titan

            15.4.9.2. Casio

16. Assumptions and Acronyms Used

17. Research Methodolog

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List of Tables

Table 01: India Loyalty Program Market Value (US$ Mn) Forecast, By Program Type, 2016–2031

Table 02: India Loyalty Program Market Value (US$ Mn) Forecast, By End User (B2B), 2016–2031

Table 03: India Loyalty Program Market Value (US$ Mn) Forecast, By Consumer Orientation, 2016–2031

Table 04: India Loyalty Program Market Value (US$ Mn) Forecast, By Vertical, 2016–2031

Sneha Verghese
Principal Consultant
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List of Charts

Figure 01: India Loyalty Program Market Value (US$ Mn), 2016 - 2021

Figure 02: India Loyalty Program Market Value (US$ Mn) & Y-o-Y Growth Forecast, 2020 - 2031

Figure 03: India Loyalty Program Market Absolute $ Opportunity (US$ Mn), 2020-2031

Figure 04: India Loyalty Program Market Value (US$ Mn) by Program Type, 2016-2031

Figure 05: India Loyalty Program Market Y-o-Y Growth (%) Projections by Program Type, 2022–2031

Figure 06: India Loyalty Program Market Attractiveness by Program Type, 2022–2031

Figure 07: India Loyalty Program Market Value (US$ Mn) by End User (B2B), 2016-2031

Figure 08: India Loyalty Program Market Y-o-Y Growth (%) Projections by End User (B2B), 2022–2031

Figure 09: India Loyalty Program Market Attractiveness by End User (B2B), 2022–2031

Figure 10: India Loyalty Program Market Value (US$ Mn) by Consumer Orientation, 2016-2031

Figure 11: India Loyalty Program Market Y-o-Y Growth (%) Projections by Consumer Orientation, 2022–2031

Figure 12: India Loyalty Program Market Attractiveness by Consumer Orientation, 2022–2031

Figure 13: India Loyalty Program Market Value (US$ Mn) by Vertical, 2016-2031

Figure 14: India Loyalty Program Market Y-o-Y Growth (%) Projections by Vertical, 2022–2031

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India Loyalty Program Market