Incisiv and PAR Technology’s Punchh Release 2022 Loyalty Maturity Benchmark Research
Brands that don’t offer or have basic loyalty programs are missing out on a major opportunity to capture customer wallet share, says new report by Incisiv and Punchh.
The buying journey has been forever changed, and digital is now the starting point for over 85% of customers across convenience, grocery and QSR, according to new insights released today by Incisiv, in partnership with Punchh. Incisiv’s 2022 Loyalty Maturity Benchmark for convenience, grocery and QSRs assesses the digital capability of loyalty programs across program enrollment, program structure and features, and ease of use.
Incisiv’s assessment methodology spans over 78 measurable attributes, assessing fifty of the top brands across three industry segments, including convenience, grocery and QSRs. Attributes are categorized as table-stakes or differentiating capabilities based on their impact on key digital performance metrics such as average order value (AOV), conversion, customer satisfaction and loyalty.
Through Incisiv’s assessment methodology, 40 brands reached Leader status, including Casey’s,
Key findings of the research include:
- There is a major disconnect between customer expectations and what brands offer in their loyalty programs: 70% of customers prefer to use mobile apps to manage their loyalty accounts, yet only 26% of brands provide the capability to do so.
- For loyalty program enrollment, customers want easier options from the brands they engage with. While over 70% of convenience and QSR chains enable auto-enrollment, only 36% of grocery chains offer this feature.
- 67% of customers have come to expect rewards or a surprise gift on special occasions. While 52% of QSR chains have adopted this capability, only 10% of grocers and 8% of convenience chains offer reward perks on special occasions.
- 75% of customers want instant redemption of loyalty points/benefits, yet only 16% the brands assessed offer this capability.
“Consumer businesses have endured unparalleled disruption to their business models in the last 24 months and should be commended for the speed by which they have adapted,” said
“Loyalty offerings have finally come of age – recognized as a fundamental marketing strategy for customer engagement and rising to a mission-critical priority for executive management,” said
Click here to download the complete findings from Incisiv’s 2022 Loyalty Maturity Benchmark Report.
Incisiv’s 2022 Loyalty Maturity Benchmark Report is based on insights from its proprietary digital maturity benchmarking methodology. Incisiv’s assessment methodology spans over 78 measurable attributes, 150 brands, 78 digital capabilities and assesses the top 50 brands across three industry segments: convenience, grocery and QSR. Attributes are categorized as table-stakes or differentiating capabilities based on their impact on key digital performance metrics such as average order value (AOV), conversion, customer satisfaction, and loyalty.
Incisiv is a next-generation industry insights firm that helps retailers and brands navigate digital disruption in their industry. Incisiv offers consumer industry executives responsible for digital transformation a trusted platform to share and learn in a non-competitive setting, and the tools necessary to improve digital.
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