Japan Loyalty Programs Market Report 2022-2026 - Japanese Luxury Carmakers are Introducing New Buyback and Loyalty Programs for Overseas Customers

DUBLIN, May 17, 2022 /PRNewswire/ -- The "Japan 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 2022 Update" report has been added to ResearchAndMarkets.com's offering.

Loyalty Programs Market in Japan is expected to grow by 12.6% on annual basis to reach US$ 10160.8 million in 2022

In value terms, the Loyalty Programs Market in Japan has recorded a CAGR of 13.0% during 2017-2021. The Loyalty Programs Market in Japan will continue to grow over the forecast period and is expected to record a CAGR of 11.9% during 2022-2026. Loyalty Programs Market in the country will increase from US$ 9024.8 million in 2021 to reach US$ 15936.7 million by 2026.

Point cards and loyalty programs are everywhere in Japan. For several years, the rewards system has been a popular way for brands and retailers to encourage customers to become frequent shoppers. No matter what form it took - plastic card, stamp card, or a digital app - most merchants and retailers in the country are using some kind of loyalty and rewards program. This has resulted in consistent growth for the loyalty and rewards programs industry in Japan over the last three to four years, and the publisher expects the trend to further continue from the short to medium-term perspective.

From telecom providers to e-commerce platforms and convenience stores, all are taking advantage of the growing preference for loyalty programs among consumers to drive their growth and incremental revenue in Japan. Notably, hospitality groups are entering into strategic partnerships with loyalty program providers to gain direct access to members, which will subsequently help them in increasing their market share in the country.

In Japan, retailers across categories, including restaurants, coffee shops, clothing stores, rental car agencies, and many more, like to offer their customers a loyalty program. Moreover, customers in Japan want to earn points and rewards regardless of where they shop in the country.

Consequently, the publisher expects retailers to record strong growth which continues to increase their network of retailers. Notably, this has been one of the major reasons why the T-Point Program, which was one of the top loyalty programs in the country a few years back, has fallen back in the rankings. The T-Point Program was dropped by several retailers in Japan, whereas new loyalty programs, such as the one offered by Rakuten, have been able to record strong growth over the last three to four years because it has continued to increase its partner network.

Moreover, the differentiated approach to loyalty programs has also helped Rakuten in becoming the most preferred loyalty program among Japanese consumers. The publisher, therefore, expects that increasing the partner network and offering differentiated loyalty programs will help the providers in driving their growth over the next four to eight quarters.

Loyalty program providers are increasing their partner network to further boost their growth in Japan

To further make their program attractive to consumers and offer them more choices to earn and spend their loyalty points, loyalty program providers are entering into strategic partnerships with more and more brands. 

• In July 2021, Rakuten announced that the firm has entered into a strategic partnership with Marriott International. Under the strategic collaboration, members of the Rakuten loyalty program will get more benefits such as discounted member rates, the opportunity to earn more points, and other member-only benefits. On the other hand, the strategic collaboration with Rakuten will allow Marriott to gain direct access to the more than 100 million members of the Rakuten loyalty program.

The publisher expects more such strategic collaborations over the next four to eight quarters, which will further boost the popularity of the loyalty programs in Japan from the short to medium-term perspective.

Global players are launching their rewards program to gain market share in Japan

As the loyalty and rewards programs market continues to grow year on year in Japan, global rewards platforms are expanding their footprint in the country to gain more market share in the global industry. 

• In October 2021, Miles, one of the leading rewards platforms globally, announced that the firm is expanding its presence in the international market by launching its service in Japan. Notably, the launch of Miles in Japan further builds on the rapid growth achieved by the platform, which now offers members 500 personalized rewards from 360 brands.
• In Japan, the marketplace has partnered with leading national brands such as Garmin, Hulu, Japan Airlines, Under Armour, Family Mart, and Red Bull, among several others. Building on its success in the United States market, Miles is allowing Japanese people to earn miles for all their travel, which can then be redeemed at partner stores across the country.

Japanese luxury carmakers are introducing new buyback and loyalty programs for overseas customers

The demand for loyalty programs is increasing globally, and not just in Japan. In the midst of these growing trends, Japanese luxury carmakers are launching new buyback and loyalty programs for their Indian customers. 

• In March 2022, Lexus, celebrating its 5th anniversary in India, announced that the firm is launching a new buyback and loyalty program for its customers in the country. Notably, the program is part of the firm's anniversary celebrations in India, as it completes five years since its arrival in the country.

The publisher expects more such loyalty program launches by Japanese brands in the global market in 2022 and beyond.

Scope

Japan Loyalty Spend Market Size and Future Growth Dynamics by Key Performance Indicators, 2017-2026

Japan Loyalty Spend Market Size and Future Growth Dynamics by Functional Domains, 2017-2026

• Loyalty Schemes
• Loyalty Platforms

Japan Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Program Type, 2017-2026

• Point-based Loyalty Program
• Tiered Loyalty Program
• Subscription Loyalty Program
• Perks Loyalty Program
• Coalition Loyalty Program
• Hybrid Loyalty Program

Japan Loyalty Spend Market Size and Future Growth Dynamics by Channel, 2017-2026

• In-Store
• Online
• Mobile

Japan Loyalty Spend Market Size and Future Growth Dynamics by Key Sectors, 2017-2026

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

Japan Loyalty Spend Market Size and Future Growth Dynamics by Retail, 2017-2026

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

Japan Loyalty Spend Market Size and Future Growth Dynamics by Accessibility, 2017-2026

• Card Based Access
• Digital Access

Japan Loyalty Spend Market Size and Future Growth Dynamics by Consumer Type, 2017-2026

• B2C Consumers
• B2B Consumers

Japan Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Platforms, 2017-2026

• Software
• Services

Japan Loyalty Spend Market Size and Future Growth Dynamics by Software Platforms, 2017-2026

• Custom Built Platform
• Off the Shelf Platform

Japan Loyalty Spend Market Size and Forecast by Consumer Demographics & Behavior, 2021

• By Age Group
• By Income Level
• By Gender

For more information about this report visit https://www.researchandmarkets.com/r/61l1pr

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