Loyalty Programs: What's New in 2024
At the beginning of the year, we looked at our predictions for loyalty in 2024, and it looks like we weren’t the only ones - there are already several new loyalty programs launching (or upgrading!) in 2024.
Excited to see what’s new in loyalty? Let’s dive into the new loyalty programs for 2024 and into what customers are expecting from the future of loyalty.
And if you want to plan ahead for success in 2024, check out our free 2024 Promotion Calendar - a month-by-month calendar with promotional opportunities, links to resources, and exclusive tips for loyalty campaigns.
Delta Air Lines’ already established SkyMiles loyalty program offers points (or "miles") to passengers travelling on most fare types, which can then be exchanged for rewards such as airline tickets, business and first-class upgrades, and luxury products.
At the start of 2024, Delta announced some changes to its loyalty program, making its tiers more accessible, enhancing some benefits and overall improving its recognition and rewards for long-term loyalty.
Low frequency and complicated reward structure can cause low redemption rates - so a loyalty program for an airline could be the key to success. Consider offering instant cashback, to really win your customers over.
Ulta Beauty recently updated its loyalty program for 2024, changing its name from Ultamate Rewards to Ulta Beauty Rewards.
The new 2024 loyalty program will still offer complimentary memberships, the opportunity to redeem points on all beauty products and salon services, and points on every purchase.
The company’s most recent analysis highlighted that improving member retention and new member acquisition contributed to driving member growth.
It’s not a surprise that with 42.2 million active members, Ulta decided to put more focus on its loyalty program for 2024.
You want your loyalty program to truly engage your customers, and that means being able to understand your audience and design the loyalty program around who they are and what they want.
Kuwait International Bank (KIB)
The updated loyalty program will reward members for every banking transaction, and KIB has added even more offers within the program, allowing customers to redeem their points for a wider scope of digital rewards, such as gifts and e-vouchers.
Having just one point of integration that can connect you with different vendors sounds like a dream? We've got 1,000s of pre-integrated rewards waiting for you at the click of a button.
In the announcement, Laila Naserallah, Products Manager of the Digital Transformation and Innovation Department at KIB, said that its loyalty program had been a “game-changer in the country’s banking scene”.
Loyalty programs are a key instrument in the financial sector: they give your customers a reason to choose your services instead of your competitors.
Learn how UK financial services company Wesleyan achieved 96% satisfaction rate with their rewards scheme aimed at increasing customer retention.
US company CVS Pharmacy announced a new simplified loyalty program for 2024, adding two more membership tiers to include benefits previously found within the ExtraCare Pharmacy & Health Rewards program.
The company decided to also include free same-day delivery of nearly all products in the store in as little as three hours, among other benefits.
CVS Pharmacy proves once again that tiered loyalty programs are and will still be incredibly popular in 2024.
We’ve recently examined hundreds of brands across several countries and gathered the 101 best loyalty programs worldwide… and there are more than 30 tiered-loyalty programs listed there!
We’ve listed Bilt Rewards among our choices for best loyalty programs in the world, and the changes that the consumer brand for renters made to its reward scheme for 2024 will only consolidate its position.
Bilt already offered three elite status tiers, but now members have two ways to achieve their tier status: through the collection of qualifying points or based on qualifying spend.
Bilt stated, “Tier adjustments were necessary because of all the ways to earn Bilt Points that didn't exist 2.5 years ago.”
What’s new in loyalty for 2024?
It is still important for consumers to focus on financial benefits, but they are increasingly seeking out experiences that give them a sense of belonging and reflect their growing relationship with a company.
A recent survey by Deloitte highlighted a rise in demand for specialised treatment and improved customer service in return for consumer loyalty.
By providing targeted offers and benefits, brands can increase engagement, satisfaction, and spending from consumers.
If you're not already offering a rewards program, or if your current program isn't working for you, now is the right time to think about loyalty.
Get in touch with us to scope out your loyalty strategy.
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Content Marketing Executive
Sara is our Content Marketing Executive. She shares engaging and informative content, helping businesses stay up-to-date with the latest trends and best practices in loyalty...