LOYALTY IN ARGENTINA
Argentina, with 46M inhabitants, is LATAM’s 3rd largest economy and has a strong track record in loyalty marketing. A strong population of well-trained professionals are actively supporting programs situated to participate in this complex and dynamic environment. Even in a market with high inflation rates (with peaks close to 100 percent per year in recent years) and permanent changes in regulatory frameworks, loyalty programs have been sustained over time and are evolving through expansion of offers and significant improvements to the customer experience (CX).
Currently, banks, insurance companies, retailers of all types, hotel/restaurant chains, gas stations and airlines are actively sponsoring loyalty programs. These are focused on the customer, but also address the needs of partners and the broader value chain.
Companies invest in delivering multi-channel access, product simplicity, integration, and customer recognition. Consumers make it clear they want convenience, personalization, accessibility, and ease of use. Multiple surveys carried out in the country show that customers wish for their needs to be anticipated and don’t want to be flooded with product offers that are difficult to manage.
PANDEMIC AND INFLATION
The covid-19 effect spawned more digital solutions, and all parties involved in the commerce chain adopted new technologies. Consumers who were reluctant to engage in digital and online transactions have accepted and adopted it, resulting in true digital transformation and a true cultural change.
