How the top e-commerce brands are working with loyalty: Trends and challenges for 2024

Loyalty is key

No matter what corner of e-commerce you’re in, everyone can agree on one thing: Loyalty comes before anything else.

In fact: 

• Increasing customer retention rates by 5% increases profits by 25% to 95% (Harvard Business Review) 
• Existing customers are 50% more likely to try a new product – and spend 31% more than other customers (Forbes) 
• Getting a new customer is between 5 and 25 times more expensive than retaining an existing one (Harvard Business Review) 

Loyalty is well worth the effort.  

But what’s the best way to go about it?  

Do you set up a loyalty program (spoiler: yes, you do), and if so, how do you create incentive to join?  

What are some of the biggest challenges that e-commerce businesses are facing when working with loyalty? 

And what about the tech side of things? Do you invest in a dedicated loyalty engine, or can you do plenty good with what you already have?  

We asked 6 of Denmark’s most successful e-commerce brands with a member base of 4+ million how they’re currently working with customer loyalty. And how they recommend you go about it.  

Let’s dive in.