3 Jan 2024

24 must-know customer loyalty statistics for 2024

Reza Javanian

Mohammadreza Javanian

Talon.One loyalty expert

Customer loyalty between shops and brands

5 minutes to read

With customer acquisition becoming increasingly expensive, it’s clear that a renewed focus on retention and loyalty is high on brands’ agenda for 2024 and beyond. Customer loyalty is key for businesses looking to boost engagement while maintaining profitability - a vital combination given current economic headwinds.

Below, we’ve gathered some essential customer loyalty statistics to keep in mind when thinking about loyalty in 2024.

Brand loyalty statistics 2024 

1. 60% of consumers aged 18-24 say they like point-based loyalty schemes, with 20% saying they would stop shopping from certain brands if they were to end their loyalty scheme. (Deloitte)

2. If customers receive value during a service interaction, there is an 82% probability of repurchase or renewal when presented with the chance to switch brands. (Gartner)

3. 70% of consumers spend more and engage more frequently with brands and retailers whose loyalty program they are a member of, compared to brands where they are not. However, less than 25% of programs offer personalized member experiences based on previous interactions and purchase history. (Deloitte)

4. Millennial consumers (ages 35-44) are most likely (71%) to embrace loyalty programs to save money, while consumers ages 55 and up are least likely to use their rewards accounts. (Commercetools)

5. With paid programs, 50% of cancellations occur within the first year of membership. Consumers’ most frequent reason for cancellation was not using the benefits enough to justify the sustained cost. (McKinsey)

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Loyalty benefits

6. 65% of US online consumers who belong to loyalty programs say that members-only offers are important to them. (Forrester)

7. Receiving value during a service interaction increases the likelihood of sharing positive word of mouth by 97%, and increases wallet share by 86%. (Gartner)

8. 54% of loyalty programs offer member benefits that are non-transactional. (Deloitte)

Emotional loyalty

9. 62% of customers say they feel an emotional connection to the brands they buy. (Salesforce)

10. When consumers feel appreciated, 88% plan to stay with the brand, 83% plan to spend more with the brand, and 87% will advocate for the brand. (Forrester)

11. 70% of emotionally engaged consumers spend up to two times or more on brands they are loyal to, compared to 49% of consumers with low engagement. (Oracle)


Loyalty and gamification

12. Brands that incorporate gamification into their customer engagement strategies see a 47% rise in engagement, a 22% rise in brand loyalty, and a 15% rise in brand awareness. (Snipp)

13. Gamified loyalty programs for email marketing campaigns can enhance customer lifetime value by 48%, and the conversion rate by 15%. (Entrepreneur

Personalization and consumer data

14. 71% of consumers expect companies to interact with them on a personalized level. (McKinsey)

15. 73% of B2B buyers want personalized experiences similar to the B2C customer experience - but only 22% of B2B customers say their most recent online experience was completely personalized to them. (Bloomreach)

16. When a shopping experience is highly personalized, customers are 110% more likely to add additional items to their baskets and 40% more likely to spend more than they had planned. (Boston Consulting Group)

17. 78% of customers are more likely to repurchase from a company that personalizes their experience. (McKinsey)

18. 22% of consumers are happy to share some data in return for a more personalized customer service or product. (Deloitte)

19. 63% of US adults are willing to share personal information with companies in exchange for benefits like cash rewards, loyalty program points, or early access to new products. (Forrester)

20. Only 17% of privacy decision-makers say their organization’s privacy team has marketing competencies or skills. (Forrester)

21. Companies without a fallback privacy-centric infrastructure (e.g. first-party data or data clean rooms) are likely to spend 10–20% more on marketing efforts to make up for loss of third-party data from new regulations and policies. (McKinsey)

Omnichannel experience

22. 42% of consumers crave a consistent and unified brand experience regardless of channel — and this matters the most to Gen Z and Millenials. (Oracle)

23. Omnichannel capabilities integration is the top POS priority among North American retailers. (Finance Online)

24. 100% of top-quartile retailers cite omnichannel personalization as a top 5 priority. (McKinsey)

It’s clear that customers now expect more from the brands they engage with, especially when many are changing their shopping habits and spending less. To prevent shoppers from going elsewhere, brands need to offer more than just traditional discounts - and instead offer value right across the customer journey. 

Check out our “Definitive Guide to Customer Loyalty” to learn more and see how to stay ahead of the competition in 2024.

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Isabelle Watson

Loyalty & promotion expert at Talon.One

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