DUBLIN, March 5, 2024 /PRNewswire/ — The “Japan 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.
The loyalty market in Japan was expected to grow by 10.7% on an annual basis to reach US$11.79 billion in 2024. In value terms, the Japanese loyalty market has recorded a CAGR of 12% during 2019-2023. The loyalty market in Japan is set to continue to grow over the forecast period and is expected to record a CAGR of 9.4% during 2024-2028. The loyalty market in the country will increase from US$10.65 billion in 2023 to reach US$16.86 billion by 2028.
The loyalty program market is expected to record steady growth over the medium term in Japan. The adoption among Japanese consumers is strong and the trend is projected to continue in 2024. The reward point system is common in the Japanese market. Various schemes are offered by big as well as smaller corporations.
From giants like Rakuten to Docomo and Softbank to grocery retailers like Family Mart and Lawson, several loyalty programs are provided to consumers in Japan. These loyalty programs are not just driving the competitive landscape but also aiding industry growth. Overall, a positive growth outlook is forecast for the Japanese loyalty program industry over the next three to four years.
Japanese firms are forging strategic alliances enabling members to convert their points to access other services
Firms, across industry verticals, are entering into strategic partnerships to allow members to convert their points for accessing other services. Japanese firms are also forging such collaborations creating more value for their loyal members.
Rakuten Japan, in November 2023, entered into a strategic partnership with Marriott. The collaboration will enable Rakuten’s loyalty members to convert their points to Bonvoy at a 3:1 ratio. The maximum conversion allowed per transaction is 3,000 points. The partnership is part of the firm’s strategy to create more value for loyal members, thereby targeting higher growth for the scheme and the business over the medium term.
From the short to medium-term perspective, more such strategic partnerships are expected to take place in the Japanese loyalty program industry. This will support the growth of the industry over the next three to four years.
The Japanese government plans to offer shopping points to promote contactless deliveries
The Japanese government plans to reward individuals who opt to have their packages left outside their front doors during online shopping deliveries. This initiative is designed to alleviate the strain on delivery personnel, especially in light of upcoming stricter regulations on overtime for truck drivers. The overall goal is to reduce the current 12% of redelivery for items when recipients are not at home to 6% by the start of fiscal year 2024.
The government intends to reward individuals with points if they opt for alternative delivery options such as receiving packages outside their front doors, at convenience stores, or with flexible delivery dates when making online orders. The government is determining the point values and the start date for this initiative.
They are also planning to provide subsidies to online shopping platforms for system modifications to implement the points system. Additionally, there are plans to allocate funds in the extra budget to cover a portion of the points awarded, with the expectation that online shopping platforms will continue offering this incentive even after the official project concludes.
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.
Report Scope
This report provides in-depth, data-centric analysis of loyalty programs in Japan. Below is a summary of key market segments:
Japan Retail Sector Spend Value Trend Analysis
Ecommerce SpendPOS Spend
Japan Loyalty Spend Market Size and Future Growth Dynamics by Key Performance Indicators
Value Accumulated and Value Redemption Rate of Loyalty programs in Japan
Japan Loyalty Spend Market Size and Future Growth Dynamics by Functional Domains
Loyalty SchemesLoyalty Platforms
Japan Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Program Type
Points programsTier-based programsMission-driven programsSpend-based programsGaming programsFree perks programsSubscription programsCommunity programsRefer a friend programPaid programsCashback programs
Japan Loyalty Spend Market Size and Future Growth Dynamics by Channel
In-StoreOnlineMobile
Japan Loyalty Schemes Spend Market Size and Future Growth Dynamics by Business Model
Seller DrivenPayment Instrument DrivenOthers
Japan Loyalty Spend Market Size and Future Growth Dynamics by Key Sectors
RetailFinancial ServicesHealthcare & WellnessRestaurants & Food DeliveryTravel & Hospitality (Cabs, Hotels, Airlines)TelecomsMedia & EntertainmentOthers
Japan Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by Online
RetailFinancial ServicesHealthcare & WellnessRestaurants & Food DeliveryTravel & Hospitality (Cabs, Hotels, Airlines)TelecomsMedia & EntertainmentOthers
Japan Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by In-Store
RetailFinancial ServicesHealthcare & WellnessRestaurants & Food DeliveryTravel & Hospitality (Cabs, Hotels, Airlines)TelecomsMedia & EntertainmentOthers
Japan Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by Mobile App
RetailFinancial ServicesHealthcare & WellnessRestaurants & Food DeliveryTravel & Hospitality (Cabs, Hotels, Airlines)TelecomsMedia & EntertainmentOthers
Japan Loyalty Spend Market Size and Future Growth Dynamics by Retail
Diversified RetailersDepartment StoresSpecialty StoresClothing, Footwear & AccessoriesToy & Hobby ShopsSupermarket and Convenience StoreHome MerchandiseOther
Japan Loyalty Spend Market Size and Future Growth Dynamics by Accessibility
Card Based AccessDigital Access
Japan Loyalty Spend Market Size and Future Growth Dynamics by Consumer Type
B2C ConsumersB2B Consumers
Japan Loyalty Schemes Spend Market Size and Future Growth Dynamics by Membership Type
FreeFree + PremiumPremium
Japan Loyalty Platform Spend Market Size and Future Growth Dynamics by Software Use Case
Analytics and AI DrivenManagement Platform
Japan Loyalty Platform Spend Market Size and Future Growth Dynamics by Vendor/Solution Partner
In HouseThird Party Vendor
Japan Loyalty Platform Spend Market Size and Future Growth Dynamics by Deployment
CloudOn-Premise
Japan Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Platforms
SoftwareServices
Japan Loyalty Spend Market Size and Future Growth Dynamics by Software Use Case Platforms
Custom Built PlatformOff the Shelf Platform
Japan Loyalty Spend Market Size and Forecast by Consumer Demographics & Behaviour
By Age GroupBy Income LevelBy Gender
For more information about this report visit https://www.researchandmarkets.com/r/rluukp
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