LOYALTY PROGRAMS: THE KEY TO GROWTH IN TOP COMPANIES OF UZBEKISTAN
##semicolon##
Key words: Loyalty program, Uzbekistan, customer retention, customer loyalty, Korzinka, Safia, business growth, consumer behavior, loyalty card.Abstrak
Today loyalty programs play a significant role in attracting and retaining more
customers, and driving business growth which is reflected in the increased number of
sales. Customer loyalty and long-term relationship with customers can be achieved by
offering rewards and discounts for them (Chen, 2024). Most leading companies in
Uzbekistan like Korzinka, one of the largest supermarket chains in the country, and
Safia, a well-established chain of confectioneries offers loyalty programs for their
customers which have brought numerous benefits for their growth. This article focuses
on the ways how loyalty programs, especially loyalty cards have enabled Korzinka and
Safia to attract more customers, achieve customer engagement, loyalty and satisfaction,
and revenue growth in the competitive market of Uzbekistan.
##submission.citations##
Reference list
1. Chen, J. (2024). How Loyalty Programs Work. [online] Investopedia. Available at:
https://www.investopedia.com/terms/l/loyalty-program.asp.
2. Hure, D. (2024). Loyalty Programs: Impact on Customer Purchase Behavior -
Reward the World TM . [online] Reward the World TM . Available at:
https://rewardtheworld.net/loyalty-programs-impact-on-customer-purchase-
behavior/.
3. Indeed Career Guide (2024). 10 Best Customer Loyalty Programs That Work (With
Examples). [online] Indeed Career Guide. Available at:
https://www.indeed.com/career-advice/career-development/customer-loyalty-
program [Accessed 17 Dec. 2024].
4. Mckinsey (2022). Winning in loyalty | McKinsey. [online] www.mckinsey.com.
Available at: https://www.mckinsey.com/capabilities/growth-marketing-and-
sales/our-insights/winning-in-loyalty.
5. Morgan, B. (2020). 50 Stats That Show The Importance Of Good Loyalty Programs,
Even During A Crisis. [online] Forbes. Available at:
https://www.forbes.com/sites/blakemorgan/2020/05/07/50-stats-that-show-the-
importance-of-good-loyalty-programs-even-during-a-crisis/.
6. Pearson, B. (2020). 12 Ways Starbucks’ Loyalty Program Has Impacted The Retail
Industry. [online] Forbes. Available at:
https://www.forbes.com/sites/bryanpearson/2020/12/16/12-holiday-gifts-from-the-
starbucks-card/.
7. Seshadri, A. (2024). 8 Effective Strategies To Promote Your Loyalty Program.
[online] Mailmodo. Available at: https://www.mailmodo.com/guides/promote-
loyalty-program/.
8. Statista (2023). Topic: Loyalty programs in the U.S. [online] Statista. Available at:
https://www.statista.com/topics/7986/loyalty-programs-in-the-us/?#topicOverview
[Accessed 19 Dec. 2024].
9. Vignesh Wadarajan (2024). Loyalty Programs: What Works And What Doesn’t.
Forbes. [online] 12 Aug. Available at:
https://www.forbes.com/councils/forbestechcouncil/2022/11/18/loyalty-programs-
what-works-and-what-doesnt/.
10. Weronika Masternak (2024). Loyalty program benefits: how a loyalty program can
grow your business. [online] www.openloyalty.io. Available at:
https://www.openloyalty.io/insider/loyalty-program-benefits-how-a-loyalty-
program-can-grow-your-business.
11. Yaqub, M. (2024). 9 Starbucks Customer Loyalty Statistics: A Must-Know in 2024.
[online] BusinessDasher. Available at:
