Written by Dan Edelman, general manager, UK merchant services at American Express
Loyalty schemes have never been easier to join. Yet widespread membership does not necessarily translate into meaningful loyalty. A tap at checkout or a scan of an app may secure a sign-up, but the real test is what happens next: whether customers shop more often, spend more or choose one brand over another.
American Express’ new Rewards Report 2026* found that more than a quarter (26%) of people signed up to a loyalty scheme do not feel they receive real value from it. That is the gap retailers need to close: the gap between enrolment and behaviour.
The average shopper is signed up to 12 schemes, spanning supermarkets (87 per cent), high street retail (66 per cent), food and drink (50 per cent) and cashback cards (44 per cent). In such a crowded market, membership totals reveal little about which programmes customers genuinely value. Retailers should instead measure the behaviours those programmes influence.
Not all value looks the same
Nearly half of loyalty programme members (46 per cent) say earning and redeeming rewards are now part of daily life and routines. But as loyalty becomes embedded in shopping habits, customers are looking for value in three distinct ways.
First, there is economic value. Loyalty programme members surveyed in our research estimate they earn rewards on more than a third (35 per cent) of their spending, while 40 per cent use rewards to reduce costs. Second, there is experiential value; more than half (53 per cent) receive benefits beyond cashback, such as travel upgrades, exclusive events and members-only access; for a quarter (26 per cent), these benefits can create a ‘once-in-a-lifetime’ experience. Third, there is relevance: delivering the right benefit at the moment it is most likely to matter.
That principle is reflected across American Express Card portfolio; some offer straightforward cashback, while others offer benefits such as enhanced travel upgrades or exclusive dining credits. The product a Cardmember chooses depends on the type of value they are looking for.
In practice, retailers should segment customers according to how they shop: what they buy, how frequently they visit, and which occasions bring them back. A weekly shopper needs a reward that reinforces an established habit, rather than one built around an annual payoff. A customer who shops twice a year needs a benefit that lands on those occasions, rather than one that accumulates towards a threshold they are unlikely to reach.
Measure behaviour, not membership
For retailers, the challenge is no longer simply rewarding customers; that expectation is already established. The opportunity is to understand why and when particular customers return, then use that insight to encourage the behaviours that matter most.
Delivering that relevance at scale requires retailers to use purchasing insight to match offers to customer behaviours. Amex Offers enables participating retailers to put timely, targeted offers in front of Cardmembers, rather than sending the same generic promotion to everyone. One grocery retailer reported that its average transaction size more than doubled during the campaign we ran.
The right measure will depend on the commercial objective. A grocer might want to increase basket size during weekday shops; a fashion retailer might aim to drive repeat visits before a sale cycle ends. It’s important to define the desired change in behaviour before launching the programme, then select the metric that demonstrates whether that change occurred. Membership totals may be easy to report, but they are rarely the strongest evidence of impact.
Revisiting those objectives is equally as important as customer behaviour and business priorities evolve. Retail leaders should ask not just how many customers have joined a scheme, but whether it has increased frequency, basket size or retention among a defined group. The strongest loyalty programmes do not simply count members; they give customers a reason to behave differently – in turn helping to drive ongoing commercial success.
*American Express commissioned Opinium Market Research to conduct an online survey of 4,000 UK adults between 8-19 May 2026. The results were weighted to be nationally representative. Opinium is a member of the British Polling Council and abides by its rules.
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