Loyalty shines this Black Friday Cyber Monday: LoyaltyLion data shows shoppers prioritize points, rewards, and lasting connections

Loyalty shines this Black Friday Cyber Monday: LoyaltyLion data shows shoppers prioritize points, rewards, and lasting connections

Francesca Baker-Brooker
ASPR - PR and Content Marketing - https://aspr.media/
francesca@aspr.media

The Black Friday Cyber Monday (BFCM) 2024 shopping period has reaffirmed its place as a vital moment for brands to engage with their customers. Data from LoyaltyLion shows that loyalty programs saw significant increases in participation, with more members joining, more points earned, and more rewards redeemed than at other times of the year. For brands, sales periods like BFCM represent a critical opportunity to strengthen relationships with customers and drive long-term loyalty.

Record-breaking loyalty program engagement

Loyalty program engagement soared, with a 119% increase in new loyalty program members compared to a typical weekend. Fitness brands led the charge, seeing a 220% spike in new memberships, reflecting growing interest in health and wellness ahead of the new year. Jewelry brands saw a 131% increase, while fashion (101%), food and beverage (87%), and beauty (83%) also recorded notable growth.

Large brands with a gross merchandise value (GMV) of $50 million or more saw the biggest increase in new members, with a 183% rise compared to previous months. A leading fitness brand topped the charts for new memberships, highlighting the enduring appeal of aligning loyalty strategies with consumer lifestyle goals.

Increased reward redemptions and popularity of free shipping

Shoppers also took advantage of their loyalty program benefits, with a 119% increase in members redeeming rewards over the weekend. Categories like fitness (210%), jewelry (125%), and fashion (110%) were among the highest performers, as were beauty and cosmetics (105%), games and electronics (98%), and home and garden (94%).

The number of rewards redeemed increased by 45% compared to a typical weekend. Shoppers particularly valued rewards that enhanced convenience, with free shipping redemptions skyrocketing by 304% versus other weekends, and up 60% compared to BFCM 2023. Redemptions for free product rewards declined significantly, down 88% compared to an average weekend, suggesting these are better suited to non-sales periods where they can drive the exploration of new products.

Points earning hit new heights

Points earning also reached record levels, with shoppers earning 206% more points than on a typical weekend and 28% more than BFCM 2023. Beauty and cosmetics saw the highest spike, with a 431% increase, followed by fitness (325%), fashion (247%), and food and beverage (191%). Smaller brands with GMV between $5 million and $10 million saw the largest gains, with points earned increasing by an incredible 468%.

Opportunity for advocacy and deeper customer engagement

The BFCM period also highlighted opportunities for fostering advocacy and deeper engagement. Referrals increased by 746%, social media follows by 128%, and newsletter signups by 330%, as shoppers sought ongoing connections with their favorite brands. Custom loyalty activities, including quizzes, profile completions, and recycling initiatives, grew by 454% this weekend, demonstrating the value of innovation and tailoring engagement strategies to customer interests.

“Black Friday Cyber Monday 2024 has shown how powerful loyalty programs can be during peak sales periods,” said Charlie Casey, CEO of LoyaltyLion. “Engagement was significantly higher than we’ve seen, with more members joining, more points being earned, and more rewards being redeemed. Sales periods like BFCM offer a prime opportunity to drive loyalty program signups and engagement, in turn helping drive retention after the sales period ends. Ensuring customers have plenty of earning opportunities and a clear understanding of their available rewards is key to maximizing this potential.

“BFCM is also an excellent time for advocacy and deeper customer connections. Shoppers are eager to refer friends and family, making it essential to include referral requests in all sales season communications.

“Ultimately, BFCM is about much more than discounts – it’s a chance to build meaningful, lasting relationships with customers.”

To learn more about LoyaltyLion, please visit https://loyaltylion.com.