Analyzing the position of loyalty for recovering small and medium companies (SMBs), PYMNTS researchers surveyed a census-balanced panel of over 1,100 Brazilian customers as a part of a worldwide research of greater than 4,500 customers in 4 international locations. What we discovered is that Brazilians stand out from different areas studied in vital methods, beginning with the truth that 65 p.c of them consider it’s extra essential to buy native in 2021 than it was earlier than the pandemic.
Whereas researchers encountered robust native buying sentiments in all areas studied, Making Loyalty Work for Small Companies: Brazil Version, a PYMNTS and Pollinate collaboration, discovered that fifty p.c of all Brazilian customers already store at neighborhood shops. The place the area wants assistance is within the quantity and nature of loyalty applications supplied by native SMBs.
Learn extra: Making Loyalty Work For Small Companies: Brazil Version
This excerpt focuses on that truth, as 55 p.c of customers in Brazil frequent SMBs of their communities, and near 30 p.c store with native companies greater than they store with another sort of retailer. “Native companies are subsequently simply as integral to Brazilian customers’ each day lives as both giant, nationwide mass retailers like Carrefour and Additional or online-only shops like Mercado Libre.” Brazil is totally different from different areas studied on this manner.
To optimize SMB commerce in a rustic already predisposed to it, digital loyalty applications might want to make additional inroads with Brazilian customers. There’s nonetheless a lot to do on that entrance.
The research finds that simply 16 p.c of all Brazilian customers who use no less than one enterprise’ loyalty program are signed on with native SMB loyalty applications, “making it the rarest sort of loyalty program within the nation. This works out to simply 13 million present customers of such applications in a nation the place 105 million customers wish to use them.”
It signifies an area loyalty alternative for Brazilian SMBs that’s bigger than any market studied.
On the difficulty of information and who they belief with it, customers in Brazil see banks and monetary establishments as having the assets and wherewithal to finest handle this side of loyalty.
“5 instances as many Brazilian customers belief banks with their transactional information than belief native companies with the exact same information, with 51 p.c saying they might belief banks to gather and handle this delicate data. This places banks on the high of the record of trusted establishments that native companies may faucet to energy their loyalty applications and drive conversion,” per the Brazil findings.
See additionally: Making Loyalty Work For Small Companies: Brazil Version