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Abstract
Loyalty cards and loyalty programs are part of the everyday life of almost any consumer. These cards are for retailers and other companies a mean for retaining their customers. Customers are rewarded for their loyalty and are thus expected to stay with the company. However, the true meaning of “loyalty” and the way it can be measured are still open issues. In addition, many scholars question the effectiveness of loyalty cards and programs. In a highly competitive world, where margins are constantly under pressure, the economic benefit for the company of such programs remains topical. This article provides a discussion about these issues based upon a state-of-the-art of the most recent scientific studies on the topic.
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