A study conducted by Mastercard has revealed that there exists significant growth opportunities for loyalty cards across Asia Pacific region.
Titled ‘Achieving Advocacy and Influence in a Changing Loyalty Landscape’, the inaugural study found that the loyalty market in Australia, China, Hong Kong, India, Indonesia, Japan and South Korea is at different maturity levels depending on the changing consumer expectations and needs in each market.
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The firm used Net Promoter Score (NPS) to measure the value brought by loyalty programmes to consumers. NPS showed overall possibility for promotion and influence on spending habits of the consumers in the region.
The survey, in which 7,030 people participated, revealed varied opinions among the countries, with emerging markets such as China and India displaying better enthusiasm for these programmes, compared to those having highly competitive loyalty landscape such as Australia and Japan.
The study further found that improved digitisation, personalisation and communication could potentially aid in establishing successful loyalty programmes.
Mastercard Asia Pacific executive vice-president of services Felix Marx said: “The loyalty landscape in Asia Pacific is a competitive space with many players battling to stay top of a consumer’s loyalty wallet.
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By GlobalData“Loyalty programme providers now need to move away from traditional earn-and-burn levers and invest in smarter initiatives that will influence consumer behaviour and ensure loyalty for the longer term.”
