DUBLIN, Feb. 26, 2024 /PRNewswire/ — The “United Arab Emirates 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 2024 Update” report has been added to ResearchAndMarkets.com’s offering.
According to the report, the loyalty market in UAE is expected to grow by 10.4% on an annual basis to reach US$1.57 billion in 2024.
In value terms, the loyalty market in the country has recorded a CAGR of 11.8% during 2019-2023. The loyalty market in the country will continue to grow over the forecast period and is expected to record a CAGR of 9.2% during 2024-2028. The loyalty market in the country will increase from US$1.42 billion in 2023 to reach US$2.23 billion by 2028.
The competitive landscape is fast-growing in the Emirati loyalty programs market. Firms are forging strategic alliances in the sector and the trend is poised to grow further in 2024. The demand for better redemption capabilities and higher points earning possibilities is driving alliances in the loyalty programs market in the Emirates.
Additionally, new programs are also being introduced into the market at a rapid rate, and this trend is also expected to continue over the medium term. The rising adoption, coupled with the fast-growing competitive landscape, is expected to support industry growth in the United Arab Emirates. Overall, the publisher maintains a robust growth outlook for the loyalty programs industry over the next three to four years.
Firms forging strategic alliances are driving the competitive landscape in the loyalty programs market
To drive the adoption of their loyalty program and deliver more value on every dollar spent, firms are forging strategic alliances in the Emirati loyalty programs industry. This trend is also driving the competitive landscape in the sector.
Qashio, the UAE-based fintech firm, entered into a strategic partnership with Emirates Skywards in December 2023. The collaboration will enable members to convert their Qashio Points into Skywards Miles, thus offering more benefits to their loyalty members. Qashio’s loyalty program, notably, rewards customers making business purchases and transactions using expense cards.
BOUNZ, the UAE-based loyalty program, also forged an alliance with Eros Group in 2023. As part of the collaboration, BOUNZ members can earn one point for every Dh6 spent on electronics and two points for every Dh6 spent on accessories at nine Eros outlets in the Emirates. BOUNZ, notably, is seeking to leverage the customer base of Eros Group to drive the adoption of its loyalty program.
Going forward, the publisher expects more such strategic partnerships to emerge in the Emirati loyalty programs market. These collaborations will, therefore, support the growth of the industry over the medium term.
The trend of new loyalty programs is projected to continue further in the Emirates in 2024
Amid the rising demand and adoption of loyalty programs in the United Arab Emirates, the trend of new and innovative program launches is expected to continue further across sectors in 2024. The last 12 months have seen some product launches in the loyalty programs market.
DMCC, the leading free zone and governmental authority in Dubai for commodities trade and enterprise, launched DMCC Business Rewards in October 2023. This new loyalty program provides over 23,000 member companies with various discounts and benefits. Both new and existing DMCC member companies can now accumulate DMCC Business Rewards points on routine business expenses like company setup packages, DMCC services, business licensing, referrals, visa renewals, and more. This initiative aims to enhance support and customer service for DMCC’s expanding business community, solidifying its position as the preferred choice for local and international businesses.
Hala, the taxi service in Dubai, launched Captain Club in December 2023. The initiative has been specifically designed for its taxi drivers. This program offers exclusive offers and discounts, ensuring that all 22,000 Hala Captains can enjoy its benefits. The initiative has been thoughtfully crafted, taking into consideration the well-being and feedback of the taxi drivers. Hala has entered into strategic collaborations with various brands to bring exclusive offers to its Captain Club loyalty program. This includes partnerships with MakeMyTrip, offering discounts on flights and hotels, and joining alliances with Navitas Group and a well-known educational institution to provide skill-based online and offline courses for both Captains and their children.
These new launches, along with those that are planned for launch in 2024, will support innovation and growth in the Emirati loyalty program industry from the short to medium-term perspective.
This report provides a detailed data-centric analysis of the loyalty market opportunities and risks across a range of industry categories. With over 50 KPIs at the country level, this report provides a comprehensive understanding of loyalty market dynamics, market size and forecast, and market share statistics.
The research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view of emerging business and investment market opportunities.
Scope
United Arab Emirates Retail Sector Spend Value Trend Analysis
- Ecommerce Spend
- POS Spend
United Arab Emirates Loyalty Spend Market Size and Future Growth Dynamics by Key Performance Indicators
Value Accumulated and Value Redemption Rate of Loyalty programs in United Arab Emirates
United Arab Emirates Loyalty Spend Market Size and Future Growth Dynamics by Functional Domains
- Loyalty Schemes
- Loyalty Platforms
United Arab Emirates Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Program Type
- Points programs
- Tier-based programs
- Mission-driven programs
- Spend-based programs
- Gaming programs
- Free perks programs
- Subscription programs
- Community programs
- Refer a friend program
- Paid programs
- Cashback programs
United Arab Emirates Loyalty Spend Market Size and Future Growth Dynamics by Channel
- In-Store
- Online
- Mobile
United Arab Emirates Loyalty Schemes Spend Market Size and Future Growth Dynamics by Business Model
- Seller Driven
- Payment Instrument Driven
- Others
United Arab Emirates Loyalty Spend Market Size and Future Growth Dynamics by Key Sectors
- Retail
- Financial Services
- Healthcare & Wellness
- Restaurants & Food Delivery
- Travel & Hospitality (Cabs, Hotels, Airlines)
- Telecoms
- Media & Entertainment
- Others
United Arab Emirates Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by Online
- Retail
- Financial Services
- Healthcare & Wellness
- Restaurants & Food Delivery
- Travel & Hospitality (Cabs, Hotels, Airlines)
- Telecoms
- Media & Entertainment
- Others
United Arab Emirates Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by In-Store
- Retail
- Financial Services
- Healthcare & Wellness
- Restaurants & Food Delivery
- Travel & Hospitality (Cabs, Hotels, Airlines)
- Telecoms
- Media & Entertainment
- Others
United Arab Emirates Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by Mobile App
- Retail
- Financial Services
- Healthcare & Wellness
- Restaurants & Food Delivery
- Travel & Hospitality (Cabs, Hotels, Airlines)
- Telecoms
- Media & Entertainment
- Others
United Arab Emirates Loyalty Spend Market Size and Future Growth Dynamics by Retail
- Diversified Retailers
- Department Stores
- Specialty Stores
- Clothing, Footwear & Accessories
- Toy & Hobby Shops
- Supermarket and Convenience Store
- Home Merchandise
- Other
United Arab Emirates Loyalty Spend Market Size and Future Growth Dynamics by Accessibility
- Card Based Access
- Digital Access
United Arab Emirates Loyalty Spend Market Size and Future Growth Dynamics by Consumer Type
- B2C Consumers
- B2B Consumers
United Arab Emirates Loyalty Schemes Spend Market Size and Future Growth Dynamics by Membership Type
- Free
- Free + Premium
- Premium
United Arab Emirates Loyalty Platform Spend Market Size and Future Growth Dynamics by Software Use Case
- Analytics and AI Driven
- Management Platform
United Arab Emirates Loyalty Platform Spend Market Size and Future Growth Dynamics by Vendor/Solution Partner
- In House
- Third Party Vendor
United Arab Emirates Loyalty Platform Spend Market Size and Future Growth Dynamics by Deployment
- Cloud
- On-Premise
United Arab Emirates Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Platforms
- Software
- Services
United Arab Emirates Loyalty Spend Market Size and Future Growth Dynamics by Software Use Case Platforms
- Custom Built Platform
- Off the Shelf Platform
United Arab Emirates Loyalty Spend Market Size and Forecast by Consumer Demographics & Behaviour
- By Age Group
- By Income Level
- By Gender
For more information about this report visit https://www.researchandmarkets.com/r/36g4kn
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