Retail Bank Loyalty Program Market Trend, Technology, Growth, Type, Application, Challenges, Bank Services Strategies by Merchants, Financial-Advice and Forecast-2024
Analytical Research Cognizance has announced the addition of the New Report Titled Retail Bank Loyalty Program Market 2019 Current scenario, Strategies, Opportunity, Application, Types and Competitive Landscape
Manhattan, United States – February 26, 2019 /MarketersMedia/ —
According to this study, over the next five years the Retail Bank Loyalty Program market will register a 5.8% CAGR in terms of revenue, the global market size will reach US$ 1240 million by 2024, from US$ 880 million in 2019.
Loyalty programs are structured marketing strategies designed by merchants to encourage customers to continue to shop at or use the services of businesses associated with each program. These programs exist covering most types of business, each one having varying features and rewards schemes.
There is also an increased pressure on costs due to new regulatory trends in last five years. Loyalty programs are being viewed as an important revenue-driving tool and have been proven to reduce customer acquisition costs. Retail banking in emerging economies is still in its developmental stages, as illustrated by its relatively low loyalty program penetration rates.
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Loyalty programs have emerged as one of the key marketing tools in the global retail banking industry. Retail banks offer a number of loyalty programs in developed economies, however many of these are commoditized. This has compelled banks to introduce innovative programs in order to remain both competitive and profitable.
Retail banking is a typical mass-market banking industry that lets its customers use local branches of the more widespread commercial banking establishments. Retail banking is also generally known as consumer banking. Its services include mortgages, certificates of deposit (CDs), savings and checking accounts, debit/credit cards, and personal loans. The retail banking sector mainly focuses on catering to the needs of its retail clients.
The global economic slowdown adversely affected the banking industry of key markets across the globe. To improve their financial performance, banks implemented cost-saving initiatives. As part of such initiatives, banks launched loyalty programs through low-cost channels such as mobile platforms and social media sites.
This study considers the Retail Bank Loyalty Program value generated from the sales of the following segments:
Segmentation by product type:
B2C Solutions
B2B Solutions
Segmentation by application:
Personal User
Business User
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
Maritz
FIS Corporate
IBM
Aimia
TIBCO Software
Hitachi-solutions
Oracle Corporation
Comarch
Loyalty Lab
Exchange Solutions
Bpm online
Customer Portfolios
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In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global Retail Bank Loyalty Program market size by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Retail Bank Loyalty Program market by identifying its various subsegments.
Focuses on the key global Retail Bank Loyalty Program players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Retail Bank Loyalty Program with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the size of Retail Bank Loyalty Program submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
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Some of the Points from TOC is:
Chapter One: Scope of the Report
Chapter Two: Executive Summary
Chapter Three: Global Retail Bank Loyalty Program by Players
Chapter Four: Retail Bank Loyalty Program by Regions
Chapter Five: Americas
Chapter Six: APAC
Chapter Seven: Europe
Chapter Eight: Middle East & Africa
Chapter Nine: Market Drivers, Challenges and Trends
Chapter Ten: Global Retail Bank Loyalty Program Market Forecast
Chapter Eleven: Key Players Analysis
Chapter Twelve: Research Findings and Conclusion
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