Over the past four years, global loyalty trends have changed significantly, influenced by shifting customer behaviors and rising expectations. Traditional loyalty methods like offering discounts, relying on brand heritage, or silent loyalty have seen small changes, showing that these approaches alone no longer keep customers engaged. 

The SAP Emarsys Customer Loyalty Index 2024 highlights that younger consumers are especially attracted to brands offering fresh marketing and exceptional experiences:

• 33% of Gen Z, compared to 28% of all age groups, have switched to a new brand due to its innovative marketing.
• 33% of Gen Z are drawn to brands with ‘cool’ content or visuals, versus 27% of other age groups.
• 26% of Gen Z, compared to 20% from other generations, prefer brands that offer unforgettable experiences.

In short, customers today hold more power and expect more from brands. If their demands aren’t met, they can easily switch to a competitor with just a few clicks.

As the SAP Emarsys Customer Loyalty Index 2024 reveals, the rules of loyalty are evolving rapidly. With the growing importance of AI and digital engagement, brands must rethink their loyalty strategies. By focusing on AI-powered personalisation and delivering value-based solutions, companies can create deeper, lasting relationships with customers and succeed in this new landscape.

Richter, S. (2024) Customer loyalty index: Almost Half of gen Z and millennials abandoned a brand because they grew bored with them, The Future of Commerce. Available at: https://www.the-future-of-commerce.com/2024/10/10/customer-loyalty-index-2024/?utm_content=buffer7751d (Accessed: 14 October 2024). 

With omnichannel shopping more important than ever, retailers must understand where their audience engages and ensure seamless, consistent experiences. Analysts at eMarketer – formerly Insider Intelligence – highlight that shopping is no longer limited to in-store or online; it’s a dynamic journey where consumers may start their search in one place and complete their purchase in another.

Embrace this new retail landscape to meet your customers wherever they are. Explore our SMASH Framework, designed to deliver Simple and Exciting consumer experiences that aim to differentiate your business from competitors.

SMASH Framework includes several powerful components:

• SMASHCARDS our Gift Card programs with both rechargeable and non-rechargeable card options
• SMASHREWARDS a Loyalty program customised on business’s needs, that incentivise customers by granting points and providing rewards.
• SMASHENGAGE a solution that offers the ability to send personalised and segmented notifications, as well as collect situational consumer feedback.
• SMASHPROMOTE a solution for managing promotions & campaigns, and engaging business’s audiences effectively.
• SMASHBASKETS a quick and easy checkout solution offering two modes of operation, consumer self-scaling and staff operated Q-Busting.
• SMASHCONNECT a robust solution towards integrating services with Points Of Sale in a simple and agile way.
• SMASHVISION is our data representation tool that enables users to visualise key data and gain valuable business insights related to SMASHREWARDS and SMASHPROMOTE.

Contact us today to learn how the SMASH Framework can elevate your business and meet your unique needs!

Source: Dyson, J. (2024). Retail trends 2024: The future of shopping takes shape. [online] The Future of Commerce. Available at: https://www.the-future-of-commerce.com/2024/01/15/retail-trends-2024/.”