Rising inflation, the cost-of-living crisis and evolving consumer behaviours are presenting retailers with both significant challenges and new opportunities, according to a new loyalty survey report from global digital marketing technology company, Eagle Eye.

The report examines what consumers look for in a loyalty program, what brands are currently investing in and what retailers should be focused on to engage shoppers.

Among the report’s findings are three areas of opportunity for retailers to engage customers, using their loyalty programs to improve the experience and keep shoppers coming back: advanced personalisation, marketing in the moment, and gamification.

“This is an uncertain environment for retailers, but consumers are also primed to appreciate the value of loyalty. Grocery retailers are uniquely positioned to use their loyalty programs to deliver the savings their customers demand and the experiences they’ve come to expect,” Eagle Eye CEO, Tim Mason said.

The report, Grocery’s Great Loyalty Opportunity,reveals that more than half (58%) of consumers are eating and drinking out less as a direct response to inflationary pressures, highlighting the opportunity for grocery retailers to engage with their customers more effectively to reap the benefits of increased grocery spending.

Other report findings reveal that 84% of consumers believe personalised recommendations will help them save at the shelf and 71% of consumers would either consider buying a product or find the information helpful if they received a promotion or offer while shopping in a store.

Two-thirds (66%) of consumers would participate in games, contests or challenges through a company’s loyalty program, 64% of consumers are buying more items on sale and 69% of consumers rank value as being the top benefit they want from a loyalty program. Over half (54%) of loyalty program managers said they plan to make it easier to earn and redeem points through the loyalty program in the next six months.