NEW YORK, May 2, 2018 /PRNewswire/ --
According to data compiled by Allied Market Research, the Loyalty Management Market is expected to grow to $6.95 billion at a CAGR of 20.8 percent. The main driver for the market is the continuous effort by companies to improve customer satisfaction. Methods to achieve this goal include pushing out initiatives that offer loyalty rewards for discounted products. North America generated the highest revenue in the global loyalty management market in 2016 due to adequate infrastructural development for the adoption of loyalty management. Loyalty Management is relevant in many industries including BFSI, Travel & Hospitality, Media & Entertainment, Healthcare, Retail, Telecom & IT, Manufacturing, and Others. Snipp Interactive Inc. (OTC: SNIPF), Points International Ltd. (NASDAQ: PCOM), Ominto, Inc. (NASDAQ: OMNT), SPAR Group, Inc. (NASDAQ: SGRP), Hyatt Hotels Corporation (NYSE: H)
Recently Fortune has reported that Marriott announced its new loyalty program, integrated with Starwood Hotels & Resorts Worldwide Inc, unveiling a benefits package that allows customers to keep lifetime status earned under the old programs, and increases the rate at which they earn points through hotel stays by an average of 20 percent. According to Fortune, Members had "a lot of anxiety around what's going to happen when you merge the programs," David Flueck, Marriott's senior vice president in charge of loyalty, said in an interview. "What will be welcome news, and almost surprising, is that we didn't use this as a time to make the programs less rich - we're actually investing more in our members."
Snipp Interactive Inc. (OTCQB: SNIPF) is also listed on the TSX Venture Exchange under the ticker (TSX-V: SPN). Just earlier today the company announced breaking news that, "it has received a two-year contract extension worth over USD $515,000 from an existing European loyalty client. Snipp has been successfully running a gift-card and loyalty program on the SnippLoyalty platform for this client since 2014 and previously had received scope of work extensions to incorporate additional functional modules in 2015 and a program extension in 2016.
The client is one of Europe's largest shoe retailers, with four different brands, over 3,500 employees, and more than 340 locations across 10 countries in Central and Eastern Europe. This contract covers the operation of real-time loyalty programs for two of these brands, as well as an international gift-card platform.
The implementation of the program on the SnippLoyalty platform for the client has been designed to support the multiple brand, currency, regulatory and language requirements specific to the customer and the region. The administration platform and the consumer-facing portals support 10 different languages to ensure that program administrators and participating members are able to interact with the program in their local languages. Further, the SnippLoyalty promotion and voucher engine can also handle the various financial restrictions specific to each country that the program is deployed in.
"We are pleased with the continued growth in the scope of our engagement with this retail client, a strong signal of the client's confidence in our work, as they continue to expand their relationship with us. Over the last few years we have significantly widened the technology scope of SnippLoyalty to address the needs of our integrated point-of-sale clients. We are particularly proud of the successful implementation of this multi-brand, multi-currency and multi-country loyalty program for this client, because it showcases the flexibility and comprehensive coverage capable under our platform," commented Atul Sabharwal, CEO and founder of Snipp. "We continue to develop the SnippLoyalty platform to offer our clients more sophisticated loyalty solutions to engage their customers and drive incremental sales. As we have demonstrated with this contract, our platform can seamlessly handle multi-country and language requirements, which should continue to resonate with international brands in geographies where marketing blurs across country borders." Visit the Snipp website at http://www.snipp.com/ for Snipp's full suite of solutions and examples of Snipp programs."
Points International Ltd. (NASDAQ: PCOM) provides loyalty e-commerce and technology solutions to the world's top brands to power innovative services that drive increased loyalty program revenue and member engagement. Recently, the company announced that it has launched a long-term partnership with Emirates Skywards, the loyalty programme of Emirates Airline. This partnership gives Emirates Skywards members a new way to Buy, Gift, Transfer and Reinstate Skywards miles. By leveraging Points' Loyalty Commerce Platform services, Emirates Skywards members will be enabled to get more out of their participation by easily buying, gifting or transferring up to 100,000 miles per year or reinstating expired miles. The partnership is ultimately providing Emirates Skywards members more flexibility in managing their miles. With its leading Loyalty Commerce Platform, Points provides loyalty eCommerce and technology solutions to the world's top brands to power innovative services to drive increased revenue and member engagement in loyalty programs. Points leverages its platform to efficiently deliver great services, including the Buy, Gift and Transfer functionality, to more than 50 loyalty program partners worldwide.
Ominto, Inc. (NASDAQ: OMNT) is a growing company with global operations in the e-commerce, marketing, and entertainment industries. The company owns or invests in strategic entities that provide value to its global customer base. Ominto is a pioneer in global Cash Back and first to market in many regions of the world. At the core of Ominto's business is Dubli.com, a global consumer Cash Back e-commerce digital marketplace. In April, the company announced several new product and feature enhancements to its Dubli.com Cash Back shopping website. Recently, Dubli.com hosted their annual international two-day Dubli Summit 2018, in Dubai, with attendees from more than 30 countries where they announced several new initiatives to innovate, grow and adapt to the new realities within the currently changing e-commerce industry.
SPAR Group, Inc. (NASDAQ: SGRP) is a diversified international merchandising and marketing services Company and provides a broad array of services worldwide to help companies improve their sales, operating efficiency and profits at retail locations. The Company provides merchandising and other marketing services to manufacturers, distributors and retailers worldwide and coordinates the operations through the use of multi-lingual proprietary technology which drives the logistics, communication and reporting for global operations and customers. In April, the company announced financial results for the fourth quarter and fiscal year ended December 31, 2017. Revenue for the fourth quarter of 2017 increased $5.5 million, or 12 percent, to $50 million. International operations (primarily the 2016 acquisition of Brazil) contributed to year-over-year revenue growth in the fourth quarter.
Hyatt Hotels Corporation (NYSE: H), headquartered in Chicago, is a leading global hospitality company with a portfolio of 14 premier brands. In March, the company announced an industry-leading extension of the World of Hyatt loyalty program to the home sharing space. Effective today, members can now earn and redeem World of Hyatt points with Oasis, a global leader in serviced home rental accommodations that offers more than 2,000 personally vetted homes across more than 20 destinations worldwide. Oasis combines the comfort and authenticity of a home with hotel-like amenities, including in-person check-in, fresh linens, luxury toiletries, WiFi internet and on-demand concierge services. Additionally, Oasis' global operations expands Hyatt's footprint in many markets where Hyatt is currently underrepresented or not yet represented, including Barcelona, Ibiza, Punta del Este (Uruguay), Rome and Trancoso (Brazil).
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