Brazil Loyalty Programs Market Databook 2024-2028

DUBLIN, March 25, 2024 /PRNewswire/ — The “Brazil Loyalty Programs Market Intelligence and Future Growth Dynamics Databook – 50+ KPIs on Loyalty Programs Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer Demographics – Q1 2024 Update” report has been added to  ResearchAndMarkets.com’s offering.

The Brazilian loyalty market is expected to reach US$4.07 billion in 2024. In value terms, the loyalty market in Brazil has recorded a CAGR of 12.8% during 2019-2023. Brazil’s loyalty market will continue to grow over the forecast period and is expected to record a CAGR of 9.9% during 2024-2028, growing from US$3.66 billion in 2023 to reach US$5.94 billion by 2028.

Loyalty programs are gaining widespread momentum among consumers in Brazil. The investment in the space from digital platforms, including neo-banks and e-commerce marketplaces, is driving innovation in the sector as well as adoption among Brazilians. The trend is projected to further grow as firms are also forging strategic alliances to launch innovative loyalty programs in Brazil. 

Firms are launching their own cryptocurrencies as part of the loyalty program in Brazil

Businesses across industry verticals have shown their interest in the cryptocurrency space amid the rise in adoption in Brazil. Many have launched their own altcoins as part of the loyalty program as well.

For instance,

• In August 2023, Mercado Libre, one of the leading e-commerce marketplaces in the country, announced that the firm has created a new cryptocurrency, Mercado Coin, and will implement the same as part of its loyalty program. The firm will be offering cryptocurrencies under its loyalty program whenever the customers make a purchase on the marketplace. Shoppers can use the altcoin for future purchases on the e-commerce marketplace.
• In October 2023, Nubank, one of the leading neo-banks in the country, announced that the firm also plans to launch an altcoin as part of its loyalty program. The firm is launching the altcoin as part of its strategy to expand its loyalty and benefits program to more customers in the region. The firm is projected to issue the tokens to its customers in the first half of 2024. Unlike Mercado Libre which issued the coins at US$0.10, Nubank had not disclosed the market value of its altcoin.

From the short to medium-term perspective, more firms across industry verticals are expected to launch altcoins as part of its loyalty program to capitalize on the growing demand for loyalty programs and cryptocurrency adoption in Brazil.

Cryptocurrency exchanges are expanding the scope of their rewards program to further drive cryptocurrency uptick in Brazil

In Brazil, cryptocurrencies have experienced strong adoption among the general public. However, there is still a lot of untapped potential in the country. As part of their strategy to further drive the adoption of cryptocurrencies, exchanges are expanding the scope of their reward programs.

For instance, in November 2023, Bitpreco, a Brazilian cryptocurrency exchange, announced that the firm is launching a host of digital banking services, including credit cards, through its mobile app. The credit card program is designed to make the buying and selling process simpler for Brazilians. Furthermore, credit card users will also benefit from the rewards program, which will pay them in cryptocurrencies.

From the short to medium-term perspective, more cryptocurrency exchanges are projected to launch and expand the scope of their reward programs. The innovative integration of loyalty and rewards programs with the crypto market will further support the growth of the loyalty programs market in Brazil over the next three to four years.

Domestic firms are forging strategic alliances with global players to launch loyalty programs in the Brazilian market

To further drive the growth of their business in the domestic market, more and more businesses are resorting to loyalty programs. This strategy is expected to see an influx of new loyalty and reward program launches in Brazil in 2024.

With the growing popularity of NFTs, more NFT-powered loyalty programs are projected to be launched in the Brazilian market over the next three to four years. This will further support the growth of the loyalty and rewards programs industry in Brazil.

This report provides a detailed data-centric analysis of the loyalty market opportunities and risks across a range of industry categories. With over 50 KPIs at the country level, this report provides a comprehensive understanding of loyalty market dynamics, market size and forecast, and market share statistics.

Report Highlights

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