NEW YORK, June 14, 2018 /PRNewswire/ --
According to data provided by KBV Research, the Loyalty Management Market is expected to reach a market size of USD 6.2 Billion by 2023, while growing at a CAGR of 18.6% during the forecast period. The positive projections are attributed to growing mobile phone usage, rising number of card holders, and a greater appreciation for online reward management solutions among customers. New innovative technologies, specifically the increasing applications of big data and machine learning, have further added to the growth of the market. The research describes Loyalty Management as specialized-marketing for planned activities which select, manage, relate, and control buying behavior among customers. Snipp Interactive Inc. (OTC: SNIPF), Points International Ltd. (OTC: PCOM), JetBlue Airways Corporation (NASDAQ: JBLU), Sears Holdings Corporation (NASDAQ: SHLD), Office Depot, Inc. (NASDAQ: ODP)
A report published by Forbes describes how Loyalty Management programs go beyond rewards: Customer loyalty programs work to drive sales and retain customers for repeat purchases, who get to choose to be loyal member to an airline or to a hotel because of the promise of points more than anything else, Forbes explains. Human nature kicks in and the "member" of the loyalty program becomes fixated on earning points. Howard Schneider, a senior consultant for Kobie Marketing, said, "Savvy and strategic companies are now looking beyond these rewards programs to delight, create and retain loyal customers. They are looking to solve customers' problems and soothe pain points."
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, "has secured a US$200K agreement from a leading CPG company (the "Customer"). The Customer is an American multi-national consumer goods Fortune 500 company that manufactures personal and household care products and has a portfolio of over 50 brands. The Customer had launched this program on the Snipp platform last year and under this agreement, has extended the scope of the program. The Company is currently running a successful multi brand loyalty program for this Customer, where consumers who purchase $50 worth of qualifying products at a leading retailer get a $10 retailer gift-card in the mail. Consumers can meet the purchase requirement over a single or multiple transactions. Snipp is handling the receipt validation, fulfillment and customer service for this program.
"We are very pleased to extend this program for this category leading CPG client. They have run multiple programs with Snipp and extended the program based on the continued success and adoption of this program as a tool to drive their marketing objectives at this retailer." said Atul Sabharwal, Chief Executive Officer at Snipp. "As we continue to build our technology platform and marketing expertise, we look forward to delivering more value-added benefits to this client and to seeing many more relationships with other brands within their portfolio."
Visit the Snipp website at http://www.snipp.com/ for Snipp's full suite of solutions and examples of Snipp programs. About Snipp: Snipp is a global loyalty and promotions company with a singular focus: to develop disruptive engagement platforms that generate insights and drive sales. Our solutions include shopper marketing promotions, loyalty, rewards, rebates and data analytics, all of which are seamlessly integrated to provide a one-stop marketing technology platform. We also provide the services and expertise to design, execute and promote client programs. SnippCheck, our receipt processing engine, is the market leader for receipt-based purchase validation; SnippLoyalty is the only unified loyalty solution in the market for CPG brands. Snipp has powered hundreds of programs for Fortune 1000 brands and world-class agencies and partners. Snipp is headquartered in Toronto, Canada with offices across the United States, Canada, Ireland, Europe, and India. The company is publicly listed on the OTCQB, of the OTC market in the United States of America, and on the Toronto Stock Venture Exchange (TSX) in Canada. Snipp was selected to the TSX Venture 50®, an annual ranking of the strongest performing companies on the TSX Venture Exchange, in 2015 and 2016. SNIPP IS RANKED AMONGST THE TOP 500 FASTEST GROWING COMPANIES IN NORTH AMERICA On Deloitte's 2017 Technology Fast 500™ List, for the second year in a row."
Points International Ltd. (OTC: 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. The company launched, 'KrisFlyer vRooms,' a dedicated platform for KrisFlyer members to redeem miles for hotels and car rental services. The strategic partnership will enable KrisFlyer members to use their miles to book over 300,000 competitively-priced hotels and grant access to over 29,000 car rental locations around the globe. "We're excited to team up with Singapore Airlines to develop KrisFlyer vRooms. Through Points' suite of loyalty commerce services, members have more opportunities to use their reward miles with more flexibility. This partnership will ultimately drive value for all stakeholders, as well as showcase their continued efforts to innovate," said Rob MacLean, CEO of Points. Singapore Airlines Senior Vice President Marketing Planning, Mr Tan Kai Ping, added, "With KrisFlyer vRooms, members have an additional option to use their miles. Hotels and car rentals are a perfect complement to KrisFlyer as a frequent flyer program, as these redemption options extend through the travel category. We are committed to constantly enhancing the benefits of the KrisFlyer program, and with this new seamless redemption process, members can enjoy a more rewarding experience with our program."
JetBlue Airways Corporation (NASDAQ: JBLU) is New York's Hometown Airline®, and a leading carrier in Boston, Fort Lauderdale-Hollywood, Los Angeles, Orlando, and San Juan. JetBlue recently announced a Mosaic® status match for frequent fliers. JetBlue believes in continuously rewarding customers for their loyalty, and as such, Travelers disenchanted with their current airline loyalty programs are invited to enter and test the benefits of JetBlue's TrueBlue loyalty program with Mosaic status. Mosaic status provides access to exclusive offers from partners, extra bonus points for every eligible USD 1 spent, first and second bags always fly free and change and cancellation fees are waived for Mosaic members and others on their itinerary. "JetBlue's TrueBlue and Mosaic programs are designed with real travelers in mind," said Jamie Perry, Vice President of Marketing, JetBlue. "We offer a generous and relevant program that demonstrates our loyalty to our members. In some cases, frequent fliers have less flexibility in other airline programs. The Mosaic Challenge offers a quicker path to Mosaic status and provides travelers with a chance to switch to JetBlue and experience our great customer service and rewarding TrueBlue program."
Sears Holdings Corporation (NASDAQ: SHLD) is a leading integrated retailer focused on seamlessly connecting the digital and physical shopping experiences to serve their members wherever, whenever and however they want to shop. Sears announced its financial results on May 31st, 2018 for its first quarter ended May 5th, 2018. In summary, the Company reported a net loss attributable to Holdings' shareholders of USD 424 Million for the first quarter of 2018. This compares to net income attributable to Holdings' shareholders of USD 245 Million reported for the first quarter of 2017, which included a gain of $492 million recognized in conjunction with the sale of the Craftsman brand. Adjusted EBITDA was USD 225 Million in the first quarter of 2018, as compared to USD 220 Million in the prior year first quarter. Sears announced a strategic partnership with Truxx to provide members with unique incentives when they access the innovative truck-sharing platform. Sears additionally announced a strategic partnership with GasBuddy and its Pay with GasBuddy gasoline payment service, which entitles users to a discount on nearly every gallon of gas they pump. Edward S. Lampert, Chairman and Chief Executive Officer of Holdings, said, "In a challenging quarter, we continued to focus on our strategic transformation, identifying additional opportunities to streamline operations and adjust inventory and operating expenses while staying focused on our Best Members, Best Categories and Best Stores."
Office Depot, Inc. (NASDAQ: ODP) is a global provider of products, services, and solutions for every workplace. Last year, the Company announced a new loyalty program designed to save customers money with expanded benefits, "Office Depot OfficeMax Rewards Everything." The program has been updated to ensure that every member is rewarded, and by creating a VIP tier, gives members more savings options. Customers who spend more, such as small businesses, can take advantage of "Office Depot OfficeMax Rewards Everything's" VIP Tier. After spending USD 500 within a year, VIP members will receive free delivery with no minimum purchase and earn 5 percent back on ink, toner, paper, printing and copying services for 12 months. VIP Members also receive exclusive perks such as special promotions, a birthday offer and free product samples or services.
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