Australia Loyalty Programs Market Intelligence Report 2023: Transforming Shopping Behavior, Boosted by Macroeconomic Environment

 DUBLIN, Aug. 10, 2023 /PRNewswire/ -- The "Australia Loyalty Programs Market Intelligence and Future Growth Dynamics Databook - 50+ KPIs on Loyalty Programs Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer Demographics - Q1 2023 Update" report has been added to ResearchAndMarkets.com's offering.

The loyalty market in Australia is set to witness remarkable growth, projected to reach US$3,646.4 million in 2023, marking a substantial 12.6% annual increase.

This comprehensive report presents an in-depth data-centric analysis of the loyalty market, exploring opportunities and risks across various industry categories. With over 50 KPIs at the country level, this report offers a comprehensive understanding of loyalty market dynamics, size, forecasts, and market share statistics.

Notably, the loyalty market in Australia has demonstrated a strong CAGR of 13.0% during 2018-2022 in value terms. The market is anticipated to continue its upward trajectory, projected to record a CAGR of 12.1% during 2023-2027, with a remarkable increase from US$3,237.4 million in 2022 to reach US$5,748.6 million by 2027.

Loyalty programs have significantly transformed customer shopping behavior in Australia, increasing purchasing frequency and brand loyalty. As the adoption of loyalty programs is expected to rise further in 2023, driven by the macroeconomic environment and rising inflation, organizations may face challenges in increasing awareness among consumers.

Notably, grocery and retail organizations have experienced the highest engagement with their loyalty programs, with an impressive 64% of shoppers reporting the use of their grocery loyalty programs every time they shop.

MyDeal, the online marketplace, is integrated into the loyalty scheme offered by Woolworths in Australia

Everyday Rewards, the loyalty program of Woolworths, has more than 13 million members earning one point on every dollar spent at various retailers across the country. For every 2,000 reward points, loyalty members are able to redeem an AS$10 discount on a future shop or 1,000 Qantas points.

To allow its members to earn more points and redeem their points at more retailers, Woolworths has integrated MyDeal, the online marketplace in which Woolworths has acquired 80%, into its Everyday Rewards scheme in January 2023. Beyond its group partnerships, the Everyday Rewards loyalty scheme has an additional 1 million users across different retailers, including Qantas, Marley Spoon, Bupa, and now MyDeal.

In October 2022, Woolworths also implemented a new subscription feature, to make the loyalty scheme more attractive and drive additional revenue for the firm.

For A$7, the firm tripled the rewards for its Everyday Extra members, offering three points on every dollar spent. Along with this, the subscription service also offers a 10% discount on one shop per month with a maximum limit of A$500.

From the short to medium-term perspective, the publisher expects Woolworths to integrate more retailers and brands with its loyalty scheme, thereby making the program more attractive to shoppers in Australia. This will also aid the adoption of a loyalty program over the next few quarters.

Qantas is offering more reward seats to its loyalty program members to ease the burden of inflation

There has been a significant upsurge in the utilization of reward points by Qantas frequent flyers to book seats, especially on international flights where demand is particularly high. Over three million flights were booked in H2 2022, which doubled compared to H2 2021. Owing to this growing demand, the national airline carrier is offering more reward seats to its loyalty program members in 2023.

In February 2023, Qantas announced that the firm had added tens of thousands of new international reward seats. Furthermore, the firm also extended the period of the campaign by an additional six months, which means that members will be able to access reward seats by the end of 2023. The extension of the reward seat campaigns comes amid growing inflation affecting the disposable income of many across the country.

The loyalty program offered by Qantas has gained widespread traction in 2022. Over the last 12 months, the frequent flyer program added approximately 80,000 new members a month. In H2 2022, the loyalty program generated revenue of A$1 billion for the airline carrier. Furthermore, the earnings before interest and taxation surged to A$220 million, representing a growth of 73%. With the extended reward seat campaign, the firm is projecting further growth in new members, thereby accelerating its revenue growth as well.

Scope

Australia Retail Sector Spend Value Trend Analysis

• Ecommerce Spend
• POS Spend

Australia Loyalty Spend Market Size and Future Growth Dynamics by Key Performance Indicators, 2018-2027

Value Accumulated and Value Redemption Rate of Loyalty programs in Australia

Australia Loyalty Spend Market Size and Future Growth Dynamics by Functional Domains, 2018-2027

• Loyalty Schemes
• Loyalty Platforms

Australia Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Program Type, 2018-2027

• Points programs
• Tier-based programs
• Mission-driven programs
• Spend-based programs
• Gaming programs
• Free perks programs
• Subscription programs
• Community programs
• Refer a friend program
• Paid programs
• Cashback programs

Australia Loyalty Spend Market Size and Future Growth Dynamics by Channel, 2018-2027

• In-Store
• Online
• Mobile

Australia Loyalty Schemes Spend Market Size and Future Growth Dynamics by Business Model

• Seller Driven
• Payment Instrument
• Others

Australia Loyalty Spend Market Size and Future Growth Dynamics by Key Sectors, 2018-2027

• Retail
• Financial Services
• Healthcare & Wellness
• Restaurants & Food Delivery
• Travel & Hospitality (Cabs, Hotels, Airlines)
• Telecoms
• Media & Entertainment
• Others

Australia Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by online, 2018-2027

• Retail
• Financial Services
• Healthcare & Wellness
• Restaurants & Food Delivery
• Travel & Hospitality (Cabs, Hotels, Airlines)
• Telecoms
• Media & Entertainment
• Others

Australia Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by In-Store, 2018-2027

• Retail
• Financial Services
• Healthcare & Wellness
• Restaurants & Food Delivery
• Travel & Hospitality (Cabs, Hotels, Airlines)
• Telecoms
• Media & Entertainment
• Others

Australia Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by Mobile App, 2018-2027

• Retail
• Financial Services
• Healthcare & Wellness
• Restaurants & Food Delivery
• Travel & Hospitality (Cabs, Hotels, Airlines)
• Telecoms
• Media & Entertainment
• Others

Australia Loyalty Spend Market Size and Future Growth Dynamics by Retail, 2018-2027

• Diversified Retailers
• Department Stores
• Specialty Stores
• Clothing, Footwear & Accessories
• Toy & Hobby Shops
• Supermarket and Convenience Store
• Home Merchandise
• Other

Australia Loyalty Spend Market Size and Future Growth Dynamics by Accessibility, 2018-2027

• Card Based Access
• Digital Access

Australia Loyalty Spend Market Size and Future Growth Dynamics by Consumer Type, 2018-2027

• B2C Consumers
• B2B Consumers

Australia Loyalty Schemes Spend Market Size and Future Growth Dynamics by Membership Type

• Free
• Free + Premium
• Premium

Australia Loyalty Platform Spend Market Size and Future Growth Dynamics by Software

• Analytics and AI Driven
• Normal CRM

Australia Loyalty Platform Spend Market Size and Future Growth Dynamics by Vendor/Solution Partner

• In House
• Third Party Vendor

Australia Loyalty Platform Spend Market Size and Future Growth Dynamics by Deployment

• Cloud
• On-Premise

Australia Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Platforms, 2018-2027

• Software
• Services

Australia Loyalty Spend Market Size and Future Growth Dynamics by Software Platforms, 2018-2027

• Custom Built Platform
• Off the Shelf Platform

Australia Loyalty Spend Market Size and Forecast by Consumer Demographics & Behaviour, 2022

• By Age Group
• By Income Level
• By Gender

For more information about this report visit https://www.researchandmarkets.com/r/jxd46

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