Consumer trends have been greatly reshaped by the Covid-19 pandemic starting in 2020. Over the past two years it has been made clear that future consumer spending trends, amongst other trends, can be very difficult to predict. However, MarketsandMarkets forecast that the global loyalty management market size will grow from $8.6 billion in 2021 to $18.2 billion over a period of five years. As such, locking in and managing customer loyalty have become even more crucial than before for all players in the hospitality industry. From the evolution of existing loyalty schemes to enhanced schemes with credit card providers and out-of-the-ordinary rewards, discover how customer loyalty is being adapted in the hotel industry in 2022.
Reinventing and improving existing programmes Major player IHG is retooling its programme and launching the new “IHG One Rewards”. The group has decided to personalise its loyalty scheme and is betting on generating return clients by allowing members to pick the rewards that matter to them. As...
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