Retailers have innovated impressively with their loyalty programmes and online channels. But a greater focus on lower-funnel CX will amplify the impact of these initiatives.

Winning the loyalty of customers has never been more important in retail. Not only for the supermarkets, which are competing ferociously for market share as shoppers look for value, but increasingly across the category.

The potential of loyalty programmes throughout the UK retail industry is demonstrated by rising levels of investment. In value terms, the UK loyalty market will increase from US$8.18 billion in 2023 to reach US$12.67 billion by 2028.