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Asia Pacific Loyalty Programs Business Intelligence Report 2024: Market to Grow by 11% to Reach $52.05 Billion in 2024 – Forecasts to 2028

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DUBLIN, Feb. 23, 2024 /PRNewswire/ — The “Asia Pacific 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.

Loyalty market in the region is expected to grow by 11.0% on an annual basis to reach US$52.05 billion in 2024. 

In value terms, the loyalty market in the region has recorded a CAGR of 12.6% during 2019-2023. The loyalty market in the country region will continue to grow over the forecast period and is expected to record a CAGR of 9.6% during 2024-2028. The loyalty market in the region will increase from US$46.90 billion in 2023 to reach US$75.02 billion by 2028.

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 loyalty program industry is poised for accelerated growth over the medium term in Asia Pacific region. From India to Australia and Japan, the adoption of loyalty program is growing at an accelerated pace and the trend is projected to continue further over the next three to four years. In Australia, loyalty programs have emerged as vital tool for business growth and success.

In India, too, new age startups are recording strong growth after revamping their loyalty programs to meet consumer demands. Over the medium term, the number of new loyalty program launches are expected to increase significantly in the Indian market. Overall, the publisher maintains a positive growth outlook for the loyalty programs industry in Asia Pacific region over the next three to four years.

Loyalty programs are becoming increasingly important for the success of Australian retailers

In Australia, businesses are leveraging data analytics to learn more about their customers and provide them with personalized offers. Loyalty programs have emerged as a vital tool for the success of retail businesses.

Myer has strengthened its MYER One member reward program by teaming up with American Express, Commonwealth Bank, and Virgin’s Velocity program. Out of the 7.3 million MYER One members, 4.2 million were actively engaged in the program in the 2022/23 period. Additionally, almost 75% of all purchases made at Myer during this time were linked to a MYER One account.

Myer sees the loyalty program as a key factor driving the business growth in Australia. The firm is using data analytics and machine learning models to drive its business decisions while building more engagement with its loyal customers. Other retailers, including Big W, are also resorting to loyalty programs to drive business growth. The firm introduced members-only discount pricing to nudge shoppers into scanning their Everyday Rewards cards. A similar initiative has been launched by Woolworths in August 2023.

Firms are tweaking their loyalty programs to boost adoption and increase market share in India

The food delivery sector is growing at a rapid rate in India and the market is poised to grow even further over the medium term. To tap into the fast-growing sector, firms are adopting different strategies to increase their market share.

Swiggy, for instance, launched a cheaper version of its existing loyalty program to boost adoption among consumers. The new and affordable loyalty program, launched in October 2023, is already showing its effect with the firm garnering higher market share against rival Zomato. According to a report from IIFL Securities, Swiggy gained marginal market share compared to Zomato in 1HCY23, potentially due to the aggressive pricing of its revamped loyalty program and higher promotions.

The new loyalty program, named Swiggy One Lite, has been made available for INR 99 for three months. Under the membership, Swiggy is offering 10 free food and Instamart deliveries. Furthermore, the One Lite program also offers a 30% discount at more than 20,000 restaurants in India. The report from IIFL Securities also revealed that Swiggy managed to report a growth of 17% in H1 2023, compared to the 13% growth recorded by Zomato.

The growing competition in the sector will lead to further innovation in loyalty programs, aiding the competitive landscape and adoption among consumers over the medium term. This will subsequently support the growth of the loyalty programs market in India over the next three to four years.

Beauty retailers are offering higher rewards to inspire Filipinos to make conscious choices

Amid the growing popularity of loyalty programs in the Philippines, health and beauty retailers are seeking to leverage the tool to inspire consumer purchases, while targeting higher sales and revenue.

Watsons Club, the largest health and beauty loyalty program with over 13 million members, launched a Live Well Get Rewarded campaign in September 2023. The campaign, notably, aims to inspire members to make conscious choices regarding their wellness, and in turn, reward them. Under the program, members will receive 5% discounts on vitamins and supplements and 10% off on Watsons brand products. Several other rewards have been announced under the new campaign by the retailer in the Philippines.

The rewards, notably, go beyond and outside Watson’s stores. The loyalty program has partnered with 50 merchants across industry verticals. This includes wellness, food, travel, leisure, and other categories. Members enjoy special discounts on products and services from brand partners like Hi-Precision Diagnostics, Ogawa, Microtel, Ideal Vision, and more., and other categories.

A Bundled Offering: 13 Reports – 1 Continental Report and 12 Country Reports 

Asia Pacific Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)Australia Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)China Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)India Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)Indonesia Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)Japan Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)Malaysia Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)South Korea Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)Philippines Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)Singapore Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)Taiwan Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)Thailand Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)Vietnam Loyalty Programs Market Intelligence and Future Growth Dynamics (Databook)

Scope for Each Report

Retail Sector Spend Value Trend AnalysisLoyalty Spend Market Size and Future Growth Dynamics by Key Performance IndicatorsValue Accumulated and Value Redemption Rate of Loyalty programs inLoyalty Spend Market Size and Future Growth Dynamics by Functional DomainsLoyalty Spend Market Size and Future Growth Dynamics by Loyalty Program TypeLoyalty Spend Market Size and Future Growth Dynamics by ChannelLoyalty Schemes Spend Market Size and Future Growth Dynamics by Business ModelLoyalty Spend Market Size and Future Growth Dynamics by Key SectorsLoyalty Spend Market Size and Future Growth Dynamics in Key Sectors by onlineLoyalty Spend Market Size and Future Growth Dynamics in Key Sectors by In-StoreLoyalty Spend Market Size and Future Growth Dynamics in Key Sectors by Mobile AppLoyalty Spend Market Size and Future Growth Dynamics by RetailLoyalty Spend Market Size and Future Growth Dynamics by AccessibilityLoyalty Spend Market Size and Future Growth Dynamics by Consumer TypeLoyalty Schemes Spend Market Size and Future Growth Dynamics by Membership TypeLoyalty Platform Spend Market Size and Future Growth Dynamics by Software Use CaseLoyalty Platform Spend Market Size and Future Growth Dynamics by Vendor/Solution PartnerLoyalty Platform Spend Market Size and Future Growth Dynamics by DeploymentLoyalty Spend Market Size and Future Growth Dynamics by Loyalty PlatformsLoyalty Spend Market Size and Future Growth Dynamics by Software Use Case PlatformsLoyalty Spend Market Size and Forecast by Consumer Demographics & Behaviour

For more information about this report visit https://www.researchandmarkets.com/r/18c6rk

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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FUTURE OF CARBON POLICY FORUM FEATURED A “RACE” OF SEDANS TO SEMIS & THE GIULIANI CLEAN ENERGY AWARD

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AUBURN, Wash., Jan. 7, 2025 /PRNewswire/ — Clean & Prosperous Institute’s 7th Annual Future of Carbon Policy Forum showcased the state’s latest advancements in clean energy while featuring a “race” of electric vehicles, from sedans to semis, around the Pacific Raceways track in Kent. 

“We put I-2117 in the rear-view mirror, but we are still in a race against time to transition to a clean energy economy,” said the Institute’s Executive Director, Michael Mann. “Given the latest news on emissions in Washington, we need to accelerate our transition from polluting and expensive fossil fuels to cheaper and cleaner sources of energy for our transportation needs.

“These big rigs being featured here today will help make it possible to beat the clock and realize that clean energy economy.” 

In order to encourage the purchase of zero-emission medium and heavy-duty vehicles, Washington State has allocated over $100 million for incentives. This funding aims to offset the costs associated with transitioning to cleaner vehicle options.

This year’s David and Patricia Giuliani Clean Energy Entrepreneur Award, an annual feature at the forum, was presented to Edo, a company that partners with utilities to transform commercial buildings into virtual power plants (VPPs). Created by McKinstry and Avista, Edo enhances energy efficiency, reliability, and decarbonization by optimizing buildings to be grid-interactive, offering electric utilities valuable demand flexibility. Through its innovative approach to energy and demand optimization, Edo is leading the way toward a decarbonized future. 

“On behalf of Edo, I want to sincerely thank the Clean & Prosperous Institute for this incredible recognition,” said Hendrik Van Hemert, Edo’s Managing Director. “Your dedication to advancing clean energy and sustainable solutions resonates deeply with Edo’s mission, where we work tirelessly to empower communities through equitable economic development and sustainable infrastructure. This award is a testament to the collective impact we can achieve when organizations like ours come together to champion innovative and practical solutions for a cleaner, more prosperous future.”

In addition to Edo, Atlas Agro and Airbuild were also finalists for the award. Atlas Agro is revolutionizing fertilizer production with its Pacific Green Fertilizer Plant, which uses renewable energy to create low-carbon fertilizer, significantly reducing GHG emissions. Airbuild is leading the way in clean energy with its innovative biopanels and biopods systems that generate solar power, capture carbon, and filter water, offering a unique 3-in-1 solution to drive sustainability. 

For video and other assets from today, please check here.  Media, please contact Lee Keller or Danielle Mercure for interviews or additional information at lee@thekellergroup.com or danielle@thekellergroup.com.

More About Clean & Prosperous Institute
The Clean & Prosperous Institute (formerly the Low Carbon Prosperity Institute) works to responsibly tackle climate change and carbon reduction at the state level. We leverage resources, prioritize truth-telling, and strive for improved government and private-sector collaboration. Our core focus is system design, delivering technically accurate, long-term greenhouse gas reduction strategies that guide policy decisions. We thoroughly explore opportunities and complex risk factors associated with crafting climate policy from the state level upward. We strongly believe in the power of business leadership, bipartisan problem-solving, and data-driven public policy.

Media Contact: Lee Keller
Call or text: 206.799.3805
lee@thekellergroup.com

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JLL APAC Applauded by Frost & Sullivan for Enhancing Property Performance and Delivering Customer Value in Real Estate

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JLL APAC’s deep industry expertise, state-of-the-art capabilities, and customer-driven approach position it to redefine the FM industry and reinforce its leadership.

SAN ANTONIO, Jan. 7, 2025 /CNW/ — Frost & Sullivan recently researched the facility management industry and, based on its analysis, recognizes Jones Lang LaSalle (JLL) Asia-Pacific (APAC) with the 2024 Asia-Pacific Company of the Year Award. The company is a global real estate leader that helps enterprises optimize real estate strategies to meet their operational needs and business goals. The company offers comprehensive solutions and services across the real estate spectrum, including integrated facility management (IFM). With its innovative, cutting-edge solution suite, JLL APAC enhances property performance, fosters ideal work experiences, and delivers value for clients spanning multiple industries, such as finance, government, information technology, and manufacturing. It integrates advanced technology, leverages scientific insights, and designs sustainable spaces to drive innovation and deliver significant customer value. The company goes beyond traditional FM practices, exploring neuroscientific principles to develop its innovative solutions.

JLL APAC’s Work Science initiative studies unique individual work patterns and diverse cognitive styles to power its human-centric workspace designs and create optimal work environments. It enhances workforce productivity, collaboration, and employee well-being and satisfaction. Aimed at helping C-suite executives and senior leaders tackle complex challenges and drive their organizations forward, the value-added JLL Future Labs service curates immersive, multi-sensory collaboration experiences that foster innovative thinking and synergy and accelerate decision-making. JLL APAC leverages artificial intelligence (AI) and machine learning to unify operations among diverse facility management stakeholders and eliminate data silos, enhancing collaboration and decision-making toward optimized building performance. Its comprehensive AI-enhanced JLL Serve FM application streamlines operations, automates processes, digitizes maintenance and reporting, and provides real-time visibility to optimize building usage, minimize costs, save time, and boost returns.

Janice Wung, industry principal at Frost & Sullivan, observed, “JLL APAC’s bold approach to exploring innovative insights beyond traditional FM scope, such as neuroscientific principles, enhance its solutions and deliver impactful results. Its foresight in technology integration is a key differentiator, empowering the company to remain at the forefront of the industry and capitalize on emerging market opportunities.”

JLL APAC’s Smart Building Platform helps clients enhance operational performance with real-time and remote asset monitoring, enabling continuous oversight, rapid problem detection, predictive maintenance, and improved occupant comfort. The platform drives cost optimization, enhances operational efficiency, and promotes sustainability while ensuring occupant comfort and safety. JLL APAC’s expert integration of the Internet of Things, big data, and intelligent technology enhances service excellence, promoting sustainability and propelling the FM industry into the future. Furthermore, its world’s first large language model specifically for the commercial real estate industry, the JLL Generative Pre-trained Transformer (JLL GPT) AI platform, performs comprehensive multi-source data analytics to provide clients with intelligent insights that drive informed strategies and enhance returns. JLL APAC’s customer-centric and collaborative approach, deep expertise, and reliability in addressing client pain points resulted in an impressive global Net Promoter Score of 100%, establishing a new regional record. Regardless of macroeconomic and business conditions, its steady growth momentum positions it to thrive and continue expanding its market presence.

“JLL APAC prioritizes mutual interests to drive value creation and sustainable growth for all stakeholders involved, redefining business partnerships in the FM industry. By adopting progressive, customer-centric strategies and fostering enduring relationships through collaboration, value creation, and service excellence, JLL APAC is well-positioned to lead the FM industry into the future,” added Rubini Kamal, best practices research analyst at Frost & Sullivan. With its strong overall performance, JLL APAC earns Frost & Sullivan’s 2024 Asia Pacific Company of the Year Award in the facility management industry.

Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.

Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.

About Frost & Sullivan

For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, megatrends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion. Contact us: Start the discussion.

Contact:

Tarini Singh
E: tarini.singh@frost.com

About JLL APAC
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, please visit www.jll.com

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Inspire Greatness at CES 2025: TCL Showcases Its Latest Display Innovations and Breakthroughs Across Smart Devices

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LAS VEGAS, Jan. 7, 2025 /PRNewswire/ — TCL Electronics, a leading consumer electronics brand and the world’s top two TV brand, today showcases a diverse range of display technologies at CES 2025. This includes QD-Mini LED TVs, professional monitors, in-car displays, mobile phones, tablets, smart watches, smart projectors, and RayNeo AR Glasses. Additionally, TCL unveils its latest AI advancements in new product categories and a comprehensive smart home ecosystem, underscoring its commitment to providing smarter and healthier lifestyles and inspiring greatness globally.

Revolutionizing Display Technologies

TCL’s leadership in display innovation is highlighted by its flagship TCL X11K QD-Mini LED TV. This model redefines home entertainment with over 14,000 local dimming zones, delivering breathtaking clarity and visual precision. Enhanced by TCL’s All-domain Halo Control Technology, it offers a truly immersive viewing experience, bringing every frame to life with vivid detail. To complement these visuals, TCL has strategically partnered with Bang & Olufsen, a leader in luxury audio, to deliver their bespoke sound solution, Audio by Bang & Olufsen, which gives the users an experience as captivating as the visuals. 

This collaboration also extends to the TCL A300 Series TV, a sleek and stylish choice with a premium audio experience. At the TCL booth, the world’s largest QD-Mini LED TV, the 115” QM891G, along with the Q85 Soundbar, is showcased as the perfect companion for large TVs with immersive audio performance. For gaming enthusiasts, the R83 Professional Monitor Series offers pixel-level precision, enhancing immersive gaming and creative excellence. These products highlight TCL’s dedication to catering to diverse consumer preferences, from expansive TVs to sophisticated and design-forward solutions.

TCL’s product lineup also includes the award-winning NXTPAPER 4.0 technology, an evolution of the brand’s full-color electronic paper display technology. Engineered to reduce eye strain while delivering exceptional visual quality, NXTPAPER 4.0 debuted in the TCL NXTPAPER 11 Plus Tablet, with plans to expand this technology to more mobile phones.

The RayNeo X3 Pro Smart Glasses mark the arrival of the true AR era. With built-in computing power, the model eliminates the need for external devices, delivering enhanced performance in a compact, streamlined design. Additionally, TCL introduces the PLAYCUBE Projector, which redefines portable projection with style and versatility. Furthermore, TCL showcases innovations in automotive electronics with intelligent Cockpit and Driving Solutions.

Pioneering AI-featured and Smart Connectivity

Among its exciting news at CES 2025, TCL introduces TCL Ai Me, the world’s first modular AI companion robot. Designed with a charming lifelike aesthetic and a detachable space capsule base, Ai Me is a concept product seamlessly blending companionship with smart living. It elevates daily life with natural interactions and personalized experiences, adapting to individual needs and enriching the user’s lifestyle with its intelligent and interactive features.

As another highlight, TCL’s flagship TV series is set to integrate Google’s Gemini model, with plans to launch an all-new Google TV with Gemini capabilities in 2025. TCL is also showcasing an interactive demo in a dedicated showroom, unveiling the immersive and intelligent features with the help of the Gemini model on its TV, promising to transform home entertainment.

In connectivity, TCL’s LINKHUB HH516 5G AI CPE Router ensures a smart network experience with higher throughput, lower latency, and lower power consumption for diverse scenarios. TCL showcased its D1 Series Smart Lock, which includes the D1 Pro with next-gen AI palm vein recognition, and the D1 Ultra, world’s first 4-in-1 smart deadbolt that integrates a smart lock, security camera, video doorbell, and an innovative 3.5-inch display.

Leading the Way in Sustainability and Design

TCL’s CES pavilion embodies its commitment to user-centric design and innovation with a natural, stylish, and eco-conscious ambiance. Highlights include eco-friendly remote controls made from recycled tea leaves and cardboard furniture that underscores TCL’s emphasis on sustainable practices. Expanding its vision of intelligent and eco-friendly living, TCL also brings innovative products with smart and sustainable home solutions.

TCL FreshIN 3.0 Air Conditioner redefines cooling with features that promote health, boost energy efficiency, and enhance convenience. Its liftable Fresh Air Inlet brings fresh outdoor air in, removes odors, and increases indoor oxygen levels. The energy-saving technology intelligently adjusts the operation frequency, while Smart Voice Control allows for hands-free operation without an internet connection.

Meanwhile, TCL FREE BUILT-IN Refrigerator transforms modern kitchens with its sleek, space-saving design and cutting-edge technologies that improve food preservation. Similarly, the P680 Washer-Dryer Set provides stackable solutions for compact spaces, featuring anti-wrinkle technology and intuitive cycles for optimal garment care.

Essential to TCL’s green efforts is its Smart Home Energy Management Solution (HEMS), integrating solar panels, energy storage, and heat pumps for efficient energy use.

Global Partnerships and Excellence

Partnering with top-tier sports and entertainment IPs worldwide, TCL demonstrates its innovative energy to younger generations. At CES 2025, TCL highlights its partnership with the NFL, the most-watched sports league in North America, with the NFL Hall-of-Famer Charles Woodson engaging with onsite fans to strengthen connections between TCL and its audience.

TCL’s deep and vibrant engagements with local communities and global partners have earned widespread consumer recognition, as reflected in its 2024 performance—ranking second globally for TV shipments and in North America for TV retail sales volume during the first three quarters of the year.

Discover TCL at CES 2025:

Date: January 7-10, 2025Location: Las Vegas Convention Center, Central Hall, Booth #17704

About TCL Electronics

TCL Electronics (1070.HK) is a leading consumer electronics brand and leader in the global television industry. TCL now operates in more than 160 markets around the world. The company specializes in the research, development, and manufacturing of consumer electronics products ranging from TVs, audio, home appliances, mobile devices, smart glasses, commercial displays, and more. Visit the TCL website at https://www.tcl.com.

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