2030: a loyalty odyssey

Abstract

PurposeThe purpose of this paper is to peer into the future of loyalty marketing and to offer marketers clear steps on how to shift focus and adapt to the coming consumer trends.Design/methodology/approachCOLLOQUY delved into its years of loyalty marketing research and experience to pull out three top trends believed to take hold by 2030. COLLOQUY's views are supported by statistical background from Goldman Sachs, the US Department of Economic and Social Affairs and demographers.FindingsFive over‐riding forces are creating a shift in future loyalty trends: an aging population; a burgeoning middle class; increasing extremes of wealth; more boom‐and‐bust cycles; and technology advances towards the seamless, instant and personal. Because of these forces, three new trends have emerged: the next new normal; the new “I‐network”; and the new marketing reality.Practical implicationsThis case study offers marketers not only a look into the future of loyalty marketing, but also tips on how to embrace the new trends, including: what you can do now to meet the next new normal – start to test householding options. If households are dealing with multiple generations of parents, grandparents and kids, and the new localism in which the community is vitally important to customers comes to the fore, marketers must figure out how customers can pull their resources across their families, their friends, their networks and their communities to enjoy things relevant to all or most of them. Examples might include redeeming for event resources to host their local high school reunion, or for activities and resources to help a local community center, or simply letting the extended family get away for a ski trip. This needs to be tested now so that it can be determined how people engage, what is relevant, and how to start to prepare.Originality/valueThe paper provides insight on future trends and exclusive tips on how to adapt marketing strategy to thrive in 2030.