Loyalty programs have become increasingly popular in the Middle East and Africa (MEA) region, as businesses look to retain customers and drive repeat purchases. The latest loyalty program trends in the MEA region, are focused around personalisation and the use of technology to enhance the customer experience. Well-known loyalty programs in the region that will be explored within this article include AlexBank’s ALEXPOINTS program (Bank of Alexandria), Careem Rewards, Noon Rewards, and Souq Extra.
Loyalty programs in the MEA region have evolved significantly over the years, from basic points systems to sophisticated and personalised customer experiences. One of the key drivers of this change has been the growing use of technology, particularly machine learning, to enhance the customer experience. This has allowed businesses to better understand their customers and offer them tailored rewards and benefits, which has in turn driven customer engagement and loyalty.
AlexBank‘s recent loyalty program changes to the ALEXPOINTS program are a great example of this trend. The program, designed with a focus on personalisation, uses machine learning to better understand the needs and preferences of each customer. By using data to drive decision-making, AlexBank is able to offer personalised rewards and benefits that are relevant and appealing to each customer.
The program also empowers customers to redeem in-store and online making engagement with the program simple and rewarding.
According to the Q1 2022 Global Loyalty Programs Survey, Loyalty Programs Market in Africa & Middle East is expected to grow by 12.7% on annual basis to reach US$6573.8 million in 2022.
“In value terms, the Loyalty Programs Market in Africa & Middle East has recorded a CAGR of 13.1% during 2017-2021. The Loyalty Programs Market in Africa & Middle East will continue to grow over the forecast period and is expected to record a CAGR of 12.3% during 2022-2026. Loyalty Programs Market in the country will increase from US$5832.7 million in 2021 to reach US$10442.3 million by 2026.”
This growth is driven by a number of factors, including the growing demand for personalised customer experiences, the increasing popularity of digital and mobile-based loyalty programs, and the increasing focus on data-driven decision-making.
In the MEA region, there are a number of loyalty programs that stand out for their innovation and customer focus. One such example is Careem, the ride-hailing service in the Middle East, which has a loyalty program that rewards customers for their continued use. The program, known as Careem Rewards, offers a range of benefits, including discounted rides, priority booking, and access to exclusive promotions.
Another example of a successful loyalty program in the MEA region is Noon VIP, the loyalty program of the e-commerce platform Noon. The program offers customers a range of benefits, including discounts, free shipping, and exclusive deals and promotions. In addition to these rewards, the program also uses machine learning to personalise the customer experience, offering customers tailored rewards and benefits based on their shopping habits and preferences.
Souq Extra, the loyalty program of the popular e-commerce platform Souq, is another example of a successful loyalty program in the MEA region. The program offers customers a range of benefits, including free shipping, discounts, and access to exclusive deals and promotions. Additionally, Souq Extra uses machine learning to personalise the customer experience, offering customers tailored rewards and benefits based on their shopping habits and preferences.
In conclusion, the MEA region is experiencing significant growth in the loyalty market, driven by a growing focus on personalisation and the use of technology to enhance the customer experience. Loyalty programs such as AlexBank, Careem, Noon VIP, and Souq Extra are leading the way in this trend, using data-driven decision-making and machine learning to offer customers personalized rewards and benefits. With the continued growth of the MEA loyalty market, it is clear that businesses in the region are placing a strong emphasis on customer engagement and loyalty.
