Brands Form Experiential Bonds via Skills & Experiences

Forward-thinking brands are gearing loyalty programmes around skills and experiences: globally, people are 131% more likely to buy a brand’s product after consuming its educational content (Conductor, 2022). Key initiatives from brands in the toy, sports and retail sectors range from fitness memberships to community-connecting clubs and events. 

Dialling Up Devotion: Perks for Participation (Not Just Spending)

Sports, fashion and beauty brands are engineering loyalty schemes that reward customers for participation instead of – or in addition to – spending, courting youthful consumers whose currently negligible/lower purchasing power will grow. Activities include watching app content, attending real-life pop-ups, playing in-app games, using virtual try-ons and rewarding the frequency rather than the amount of spending.

Unlocking Prized Products: VIP Invitations, Queue-Jumping & Presales Access

Globally, insider access is the most desired feature of loyalty schemes after discounts/points (see Key Stats). Smart brands are giving loyalty members access to product-based privileges, including the invitation-only shopping of high-demand items, catwalk presales and personalised admittance to near-unique products 24 hours in advance.

Paying It Forward (& Earning Interest): The Fan Investment Model

Innovative independent lifestyle brands are creating loyalty concepts allowing eager fans to play investor, cementing engagement by making consumers part of their trajectory. Adding its own slant, handbag recommerce platform Rebag tops up customers’ credit, while outdoor equipment brand Outdoor Vitals (both American) uses membership fees to fund product development in exchange for perks.

Phygital Loyalty: Metaverse-Meets-IRL Overlaps

With the metaverse poised for 33.5% annual growth in sales of virtual products and services until 2030 (Research and Markets, 2023), savvy hotel/hospitality and finance brands continue to explore virtual/real-world crossovers, rewarding consumers in real life (IRL) for the time or money spent in digital spaces, and vice versa.  

Service-Driven Retention Schemes

Appealing to the 85% of Americans willing to change brands for better customer service (Hyken, 2024), retail giant Walmart, consumer electronics brand Newegg (both US) and French car manufacturer Renault’s Indian division are leaning into service-driven propositions, including artificial-intelligence-(AI)-powered in-home replenishment, dedicated customer lines and expedited returns to boost retention.