Developments in the Loyalty Management Market - iCrowdNewswire
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Mar 13, 2018 8:10 AM ET

Developments in the Loyalty Management Market

iCrowdNewswire - Mar 13, 2018

According to data provided by Research and Markets, the Loyalty Management Market is expected to attain a market size of $6.2 billion by 2023 and growing at a CAGR of 18.6% during the forecast period. The positive projections are due to growing mobile phone usage, rising number of card holders, and a growing participation in online reward management solutions among end users. Some of the factors that influence the market are changing end-user demographics, growing expenditure on loyalty programs, and rapid growth in applications of technologies such as big data analytics and machine learning have further added to the market growth. Snipp Interactive Inc. (OTC: SNIPF), Spindle, Inc. (OTC: SPDL), Ominto, Inc. (NASDAQ: OMNT), SPAR Group, Inc. (NASDAQ: SGRP), Aimia Inc. (OTC: GAPFF)

A research report published by Gartner indicates that consumer expectations are forcing a transformation of marketing engagement. The growing preference of consumers for making purchasing decisions and sharing brand experiences digitally upends business priorities. Changing consumer behavior is also driving business leaders to invest in new platforms that support customer interactions at every point of the buyer journey. According to Gartner, “marketing increasingly owns it all – from profit and loss responsibility for the outcomes of these data-driven customer experiences to the infrastructure supporting them. As a result, marketing leaders control a growing share of the technology budget, directly influencing the purchase of customer-facing, revenue generating technology investments.”

Snipp Interactive Inc. (OTCQB: SNIPF) is also listed on the TSX Venture Exchange under the ticker (TSX-V: SPN). Yesterday the company announced breaking news that, “a leading US-based meat products value brand has migrated its existing loyalty program to the SnippLoyalty Platform. The company is part of an international multi-national food processing and distribution company with over eighteen billion dollars (USD) in global revenue.

Snipp was selected as the new provider for the client’s existing loyalty implementation and won the contract based on the ease of use and flexibility of our platform as well as our ability to run multiple promotions as overlays to the core loyalty program. Snipp had previously sold multiple shorter-term programs to this client (in Q4 of 2017), which were precursors to the current three-year deal. The Company expects to grow this relationship significantly in coming quarters, with the potential to add additional brands within both the client’s and its parent’s portfolios.”

According to Atul Sabharwal, Chief Executive Officer at Snipp, “We’re thrilled to work with this key client to enhance their existing program and to build on the previous programs we successfully implemented for them last year. The trust placed in our platform is significant as this is a core program for our client and focuses on distribution channels that are critical to their sales efforts. Contracts that cover essential customer sales channels are particularly gratifying, because they validate both the reliability and effectiveness of our technology and solutions.”

Spindle, Inc. (OTCQB: SPDL) is an innovator of merchant and consumer-facing commerce solutions focused on the Small and Medium-sized Business (SMB) market. It is focused on payment processing services and integrating value-added capabilities that enhance merchant revenue and increase consumer loyalty, experience, and stickiness. On February 2, 2018, the company updated the status of its previously announced pending acquisition of a privately held and highly profitable payments processing company. The acquisition brings the power of payment technology to merchants with innovative and easy-to-use products that are supported by unmatched customer service. The resulting combined companies will offer industry-leading technology, including its own in-house developed payments gateway, direct API, and an enterprise-level CRM solution specific to payment processing. Robust functionality will include offering different access for ISO, agents, and merchants, online merchant application processing, unlimited downstream revenue/commission, immediate underwriting, statement and reporting, and cryptocurrencies merchant processing. Together the combined company is expected to deliver tailored solutions that maximize efficiency, security, and cost savings. Solutions are expected to comprise a unique, comprehensive blend of bankcard expertise, operational service and support, and technology that accelerates each customer’s journey toward an improved bottom line.

Ominto, Inc. (NASDAQ: OMNT) is a global e-commerce leader and pioneer of online Cash Back shopping, delivering value-based shopping and travel deals through its primary shopping platform and affiliated Partner Program websites. In 2017, the company unveiled its new corporate identity for dubli.com. Since its founding in 2003, dubli.com has remained progressive in the modernization of e-commerce. The new, easily identifiable logo has been given a contemporary look to symbolize the growth and development of the website as it continues its direction as a leading global online shopping Cash Back provider.

SPAR Group, Inc. (NASDAQ: SGRP), is a supplier of merchandising and other marketing services throughout the United States and internationally. The Company’s operations are currently divided into two divisions: the Domestic Merchandising Services Division and the International Merchandising Services Division. On January 23, 2018, the company announced a global partnership with Sales Services International (SSI), a pan-European network of independent agencies that provides merchandising and field marketing services to 26 countries in Europe. The partnership makes SPAR Group the representative agency for the SSI network in all countries where SPAR operates and expands the reach of SPAR to 36 countries worldwide, including all of Europe. As a member of SSI, SPAR will now be able to actively pursue and participate in global initiatives and opportunities for brands and retailers worldwide. “SPAR Group is known for consistently delivering high quality service across multiple geographies and we are excited to welcome them into the SSI family. The addition of SPAR Group’s presence in North and Latin AmericaAsia and Africaconsiderably expands the reach of the SSI network outside of Europe,” said Dieter Stempel, President of SSI.

Aimia Inc. (OTC: GAPFF) data-driven marketing and loyalty analytics provides clients with the customer insights they need to make smarter business decisions and build relevant, rewarding and long-term one-to-one relationships, evolving the value exchange to the mutual benefit of both its clients and consumers. On February 13, 2018, the company announced that Home Hardware has renewed its strategic partnership with Aeroplan, Canada’s premier coalition loyalty program. The extended partnership will enable the retailer to continue building rewarding relationships with Aeroplan’s five million active members, who will continue to earn Aeroplan Miles for their purchases at close to 1,100 Home Hardware, Home Building Centre, Home Hardware Building Centre, and Home Furniture stores across Canada.

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