Dublin, Aug. 04, 2023 (GLOBE NEWSWIRE) -- 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 2023 Update" report has been added to ResearchAndMarkets.com's offering.
The loyalty market in Japan is expected to grow by 12.5% on annual basis to reach US$10657.4 million in 2023.
In value terms, the loyalty market in Japan has recorded a CAGR of 13.0% during 2018-2022.The loyalty market in Japan will continue to grow over the forecast period and is expected to record a CAGR of 12.0% during 2023-2027. Loyalty market in the country will increase from US$9474.7 million in 2022 to reach US$16743.9 million by 2027.
In Japan, retailers and brands are using loyalty programs as a way to increase consumer stickiness and boost revenue and sales amid the current macroeconomic environment. One key strategy that retailers in Japan are using is to offer exclusive benefits to members of their loyalty programs.
From beauty-focused brands to the national government, many across the country are seeking to leverage loyalty and reward programs. This is driving the competitive landscape and innovation in the Japanese loyalty program industry and the trend is projected to further continue in 2023.
Japanese beauty brand launches NFT-powered loyalty program in partnership with Web3 creators
An increasing number of brands and retailers are looking at non-fungible tokens (NFTs) to accelerate the adoption of their loyalty programs. In Japan, too, brands are seeking to integrate NFTs and loyalty programs to drive innovation and boost customer engagement.
In February 2023, Shiseido, the Japanese cosmetics company, unveiled an NFT-based community program to celebrate its 150th anniversary. The program aims to offer a unique and innovative way for Shiseido to connect with its customers and celebrate its milestone anniversary.
Shiseido's NFT loyalty program, #AliveWithBeauty, features a collection of 150 NFTs, which are designed in collaboration with five women from the Web3 and beauty industries using Artificial Intelligence (AI). The program invites the Shiseido community to join a mission to shape the future of beauty. Owning the NFT will grant holders exclusive access to benefits and incentives, including a year's worth of skincare products and samples worth £1,000.
From the short to medium-term perspective, The publisher expects more such brands and retailers, across industry verticals, to leverage NFTs to power the growth of their loyalty programs. This will further aid the growth and innovation of the Japanese loyalty program over the next three to four years.
The Japanese government is rewarding consumers who reduce their climate impact by going green
In 2022, the Japanese government launched an initiative to reward individuals who make eco-friendly choices in their daily lives, such as opting for ride shares, purchasing energy-efficient home appliances, or refusing single-use plastics.
The program is part of a broader effort to assist numerous retailers, including e-commerce behemoth Rakuten Group Inc. and shopping mall operator Aeon Mall Co, in expanding their loyalty point programs to incentivize customers to adopt more sustainable purchasing practices. The credits earned through these programs can be used for online purchases, airline miles, and even investments in certain cases.
To further reduce carbon emissions, the Japanese Environment Ministry is contemplating the establishment of a reward point system for owners of electric and hybrid vehicles based on the amount of carbon dioxide emissions they reduce by using these vehicles. The ministry intends to conduct a trial run of the system in fiscal 2023, beginning in April 2023, with a view to implementing it as early as fiscal 2024. The system will cover electric, gasoline-electric hybrid, and plug-in hybrid vehicles. Rewards will be given based on the reduction in CO2 emissions resulting from fuel-efficient driving and renewable energy-based battery charging, in comparison to emissions from gasoline vehicles.
Vehicle owners will be able to use their reward points at various merchants, including restaurants and e-commerce platforms. Through the reward point system, the national government is also targeting to increase the adoption of electric vehicles in Japan from the short to medium-term perspective.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 117 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $10.7 Billion |
| Forecasted Market Value (USD) by 2027 | $16.7 Billion |
| Compound Annual Growth Rate | 11.9% |
| Regions Covered | Japan |
Scope
Japan Retail Sector Spend Value Trend Analysis
- Ecommerce Spend
- POS Spend
Japan Loyalty Spend Market Size and Future Growth Dynamics by Key Performance Indicators, 2018-2027
Value Accumulated and Value Redemption Rate of Loyalty programs in Japan
Japan Loyalty Spend Market Size and Future Growth Dynamics by Functional Domains, 2018-2027
- Loyalty Schemes
- Loyalty Platforms
Japan Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Program Type, 2018-2027
- Points programs
- Tier-based programs
- Mission-driven programs
- Spend-based programs
- Gaming programs
- Free perks programs
- Subscription programs
- Community programs
- Refer a friend program
- Paid programs
- Cashback programs
Japan Loyalty Spend Market Size and Future Growth Dynamics by Channel, 2018-2027
- In-Store
- Online
- Mobile
Japan Loyalty Schemes Spend Market Size and Future Growth Dynamics by Business Model
- Seller Driven
- Payment Instrument
- Others
Japan Loyalty Spend Market Size and Future Growth Dynamics by Key Sectors, 2018-2027
- Retail
- Financial Services
- Healthcare & Wellness
- Restaurants & Food Delivery
- Travel & Hospitality (Cabs, Hotels, Airlines)
- Telecoms
- Media & Entertainment
- Others
Japan Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by online, 2018-2027
- Retail
- Financial Services
- Healthcare & Wellness
- Restaurants & Food Delivery
- Travel & Hospitality (Cabs, Hotels, Airlines)
- Telecoms
- Media & Entertainment
- Others
Japan Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by In-Store, 2018-2027
- Retail
- Financial Services
- Healthcare & Wellness
- Restaurants & Food Delivery
- Travel & Hospitality (Cabs, Hotels, Airlines)
- Telecoms
- Media & Entertainment
- Others
Japan Loyalty Spend Market Size and Future Growth Dynamics in Key Sectors by Mobile App, 2018-2027
- Retail
- Financial Services
- Healthcare & Wellness
- Restaurants & Food Delivery
- Travel & Hospitality (Cabs, Hotels, Airlines)
- Telecoms
- Media & Entertainment
- Others
Japan Loyalty Spend Market Size and Future Growth Dynamics by Retail, 2018-2027
- Diversified Retailers
- Department Stores
- Specialty Stores
- Clothing, Footwear & Accessories
- Toy & Hobby Shops
- Supermarket and Convenience Store
- Home Merchandise
- Other
Japan Loyalty Spend Market Size and Future Growth Dynamics by Accessibility, 2018-2027
- Card Based Access
- Digital Access
Japan Loyalty Spend Market Size and Future Growth Dynamics by Consumer Type, 2018-2027
- B2C Consumers
- B2B Consumers
Japan Loyalty Schemes Spend Market Size and Future Growth Dynamics by Membership Type
- Free
- Free + Premium
- Premium
Japan Loyalty Platform Spend Market Size and Future Growth Dynamics by Software
- Analytics and AI Driven
- Normal CRM
Japan Loyalty Platform Spend Market Size and Future Growth Dynamics by Vendor/Solution Partner
- In House
- Third Party Vendor
Japan Loyalty Platform Spend Market Size and Future Growth Dynamics by Deployment
- Cloud
- On-Premise
Japan Loyalty Spend Market Size and Future Growth Dynamics by Loyalty Platforms, 2018-2027
- Software
- Services
Japan Loyalty Spend Market Size and Future Growth Dynamics by Software Platforms, 2018-2027
- Custom Built Platform
- Off the Shelf Platform
Japan Loyalty Spend Market Size and Forecast by Consumer Demographics & Behaviour, 2022
- By Age Group
- By Income Level
- By Gender
For more information about this report visit https://www.researchandmarkets.com/r/cyqscd
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