Glossary /
Loyalty program

Loyalty program

A initiative by a company to incentivize repeat purchases and customer loyalty by offering rewards, discounts, or exclusive benefits.

These programs aim to retain existing customers, drive revenue, and enhance brand reputation by fostering trust and incentivizing continued engagement. By encouraging loyalty, these programs reduce customer acquisition costs, increase sales, and attract new customers through positive word-of-mouth and referrals. Additionally, they provide businesses with valuable customer data and insights for targeted marketing efforts and personalized experiences, contributing to long-term profitability and growth.

Related Terms

Unplanned Out-of-Stocks

Instances where a product is unexpectedly unavailable for purchase, often resulting in lost sales and dissatisfied

Product Variants

A specific version of a ‘master’ product that is differentiated by one or more attributes, such

Brand Loyalty

Refers to a consumer’s consistent preference for purchasing the same brand over competing ones, driven by