The US loyalty management market is anticipated to grow at a CAGR of 12.8% during the forecast period (2021-2027). The Expansion of the organized retail sector such as Walmart, Amazon, Costco Wholesale Corp., and others is expected to drive the growth of the US loyalty management market. In 2018, Amazon opened its first Amazon Go store. Amazon Go has expanded to 25 locations across the US cities which include New York, Chicago, and San Francisco. Growth in retail and e-commerce sales is supporting to drive the market growth. As per the US Census Bureau, the total US retail sales increased from nearly $1,338.4 billion in the first quarter of 2019 to nearly $1,386.2 billion in the fourth quarter of 2019.
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E-commerce as a percent of total retail sales increased from 10.5% in the first quarter of 2019 to 11.3% in the fourth quarter of 2019. In 2019, total e-commerce sales were estimated at $601.7 billion, a rise of 14.9% from 2018. There is a significant share of organized retail in the country, which in turn, is driving the adoption of loyalty management programs in the country. Rising competition in the retail and e-commerce sector is encouraging large, and small, and medium sized retailers to increase their focus on marketing strategies to improve customer experience; which in turn is driving the market growth.
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Market Coverage
· The market number available for – 2020-2027
· Base year- 2020
· Forecast period- 2021-2027
· Segment Covered-
· By Type
· By End-User Industry
· Competitive Landscape- Apex Loyalty, Clutch Holdings LLC, Fivestars Loyalty, Inc., Gold-Vision CRM, Goody Inc., iVend Retail, Kangaroo Rewards, and so on
US Loyalty Management Market Report Segment
By Type
· Customer Loyalty
· Employee Loyalty
· Channel Loyalty
By End-User Industry
· BFSI
· Retail
· Travel & Hospitality
· Others
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
