Philippines Loyalty Programs Market Report 2022-2026: Loyalty and Rewards Program Providers are Boosting their Partner Network to Grow and Expand their Market Share
DUBLIN, July 28, 2022 /PRNewswire/ -- The "Philippines 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 Philippines is expected to grow by 14.3% on annual basis to reach US$726.2 million in 2022
In value terms, the Loyalty Programs Market in Philippines has recorded a CAGR of 14.6% during 2017-2021. The Loyalty Programs Market in Philippines will continue to grow over the forecast period and is expected to record a CAGR of 13.8% during 2022-2026. Loyalty Programs Market in the country will increase from US$635.5 million in 2021 to reach US$1219.5 million by 2026.
Southeast Asia is one of the fastest-growing loyalty and rewards programs markets globally. The growing demand among consumers across the region, along with the rising adoption of loyalty programs among merchants as a tool to retain and attract new customers, has driven the industry's growth. A large part of this growth in the Southeast Asian loyalty and rewards programs industry is driven by the market in the Philippines.
There is a growing trend among consumers to shop from brands and merchants that provide loyalty and rewards programs. This consumer behavior has prompted several brands, even small merchants, to launch loyalty and rewards programs to expand their businesses in the country. As the awareness regarding loyalty and rewards programs continue to grow in the Philippines, the publisher expects the market to record strong growth from the short to medium-term perspective.
Moreover, the growing digitalization and number of online shoppers have also resulted in the rise of loyalty program members. While the global pandemic propelled the growth of online shopping, the trend is expected to continue from the short to medium-term perspective in the country. Consequently, the publisher expects e-commerce platforms, including niche-based players, to launch more loyalty programs while rebranding and revamping their existing loyalty programs in the Philippines over the forecast period.
The Filipino loyalty and rewards programs industry has the presence of both global as well as regional players. Global players such as Comarch and Capillary Technologies have forged several strategic alliances to power the growth of the loyalty programs industry, as well as boost their own growth.
On the other hand, regional players such as ZAP Philippines and Go Rewards are also among the key players in the country, driving the industry growth over the last three to four years. Apart from this, some of the other players that are assisting market growth include e-commerce platforms such as Shopee. As the industry continues to gain more traction from consumers over the next four to eight quarters, the publisher expects more big and small players to enter the market from the short to medium-term perspective.
Global loyalty program providers are forging alliances to expand their market share in the Philippines
The constant surge in demand for innovative and personalized loyalty programs among consumers has made the Philippines market attractive for global players to expand their market share in the global industry. Consequently, firms are forging strategic alliances with businesses in the country.
- In January 2022, Comarch announced that the firm had entered into a strategic partnership with Globe Telecom, one of the leading telecommunications service providers in the Philippines. As the new loyalty technology partner of Globe Telecom, Comarch will provide the 90 million Globe Rewards members with a highly immersive digital experience. This partnership with Globe Telecom is expected to help Comarch in strengthening its position both in the Philippines region as well as on the global scale over the next four to eight quarters.
- In November 2021, Capillary Technologies, one of the leading firms in the customer loyalty solutions business, announced that the firm had entered into a strategic collaboration with Petron Corporation, the largest oil refining and marketing firm in the Philippines. Under the strategic alliance, Capillary Technologies is expected to transform the loyalty program offered by Petron.
While card-based loyalty programs have been prevalent in the retail fuel market, the changing landscape demands more digitalized loyalty programs. Consequently, through this partnership with Capillary Technologies, Petron Corporation is aiming to create and provide a more engaging and digitalized customer experience. Notably, this deal with Petron is also the first step for Capillary Technologies in the Philippines loyalty space as it seeks to gain market share in the country.
Loyalty program providers are raising funds to expand their reach in the Philippines
With the loyalty and rewards programs industry gaining strong growth momentum, providers are looking to capitalize on the high-growth potential of the Philippines market. Consequently, loyalty program providers are raising funding rounds to further expand and accelerate their growth in the country.
- In January 2022, ZAP announced that the firm had raised an investment round under its Series A funding from True Digital Group (TDG). Notably, the firm is planning to use the funding round to further scale its E-Store services which it launched in June 2020 in partnership with Shopify.- Apart from scaling the business in the Philippines, both ZAP and TDG are expected to launch E-Store services across Southeast Asia. Since its launch, the E-Store business has grown five times. Aimed at F&B entrepreneurs, the E-Store streamlines the order fulfillment process of restaurants in the country. As of August 2021, ZAP is servicing 483 F&B companies in the Philippines.
Loyalty and rewards program providers are boosting their partner network to grow and expand their market share in the Philippines
In the Philippines, consumers want more brands and merchants to offer them loyalty points and rewards. Leveraging this consumer behavior to gain more market share and increase their user base, loyalty and rewards programs providers are boosting their partner network in the Philippines.
- Go Rewards, previously known as Robinsons Rewards, is constantly increasing its partner network to allow its members more ways to earn and enjoy rewards in the Philippines. As of October 2021, Go Rewards has a partner network of 2,000 stores nationwide, which virtually makes every purchase a points-earning transaction for consumers.
- Consumers not only earn points when shopping through Robinsons stores. But they also get points when completing purchases through The Marketplace, Rose Pharmacy, Caltex, Handyman, True Value, Shopwise, and many more. Moreover, Filipinos can also earn points for every flight booked with Cebu Pacific. Apart from this, the firm also provides members with hundreds of other offers and vouchers.
Scope
Philippines Loyalty Spend Market Size and Future Growth Dynamics by Key Performance Indicators, 2017-2026
Philippines Loyalty Spend Market Size and Future Growth Dynamics by Functional Domains, 2017-2026
- Loyalty Schemes
- Loyalty Platforms
Philippines 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
Philippines Loyalty Spend Market Size and Future Growth Dynamics by Channel, 2017-2026
- In-Store
- Online
- Mobile
Philippines 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
Philippines 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
Philippines Loyalty Spend Market Size and Future Growth Dynamics by Accessibility, 2017-2026
- Card Based Access
- Digital Access
Philippines Loyalty Spend Market Size and Future Growth Dynamics by Consumer Type, 2017-2026
- B2C Consumers
- B2B Consumers
Philippines Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Platforms, 2017-2026
- Software
- Services
Philippines Loyalty Spend Market Size and Future Growth Dynamics by Software Platforms, 2017-2026
- Custom Built Platform
- Off the Shelf Platform
Philippines 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/ugc0wt
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