The Indian B2B channel partner loyalty is 24,000 Crore market: Almonds Ai report

Almonds Ai has unveiled a report dedicated to the Indian Channel Partner Loyalty market. Channel Loyalty Report 2024 offers current market analysis and future projections poised to dominate 2024 and beyond, providing insights for businesses and touted to unlock success with their channel partner engagement, experience, loyalty, and rewards market.

The Indian B2B channel partner loyalty is 24,000 Crore market and growing at a CAGR of 15% annually. This presents a significant opportunity for businesses to engage their channel partners and cultivate lasting relationships.

Here are the key highlights from the report:

• 55.8% of companies recognize that loyalty programs play an essential role in overcoming the challenges posed by the inflation crisis and potential recession. 

• 68.6% of respondents plan to increase or significantly increase their investments in channel partner retention programs.

• 90% of channel partners admit that they are more productive and attached to a loyalty program if it includes some gamified elements. 

• The government of India has reintroduced IMPS to increase the immediate payment while strengthening the TDS system through section 194R. 

• The impact of loyalty programs extends beyond economic uncertainties, responsible for an impressive 18%-30% surge in spending and visit frequency.

• Green Loyalty Programs are considered the future of GenZ loyalty programs with its environmentally positive approach to loyalty.

Commenting on the report release, Abhinav Jain and Apurv Modi, Co-Founders, Almonds Ai jointly said, "Gone are the days of one-size-fits-all loyalty programs. Today's B2B partners crave personalization, innovation, and a connection to purpose. Our report reveals the key trends and technologies businesses need to embrace to forge deeper connections and unlock the true potential of this market."