Consumers’ loyalty expectations are shifting from discount-based rewards to experience-led perks, new data from the Retail Technology Show (RTS) reveals. 

Original research of over 1,000 shoppers by RTS revealed that over half (55%) want retailers to do more with their loyalty programmes rather than just offering discounts.  

From discounts to experiences

A further 54% now want experience-based perks, rising to two thirds (66%) of Millennials, while a quarter (28%) said being recognised as a valued customer is just as important as the financial benefits when becoming part of a loyalty scheme.

“As the cost of customer acquisition rises, and AI platforms take a greater share of discovery and engagement in shoppers’ buying journeys, retailers are pivoting their loyalty offerings to focus on retention and relevance.”  

Matt Bradley, Founder & Event Director, RTS

“By offering brand-rich loyalty experiences, retailers can offer deeper and more personalised perks that discount-only models simply can’t match,” he added.

Seamless integration of loyalty programmes at the checkout, which allow shoppers to access cross-channel benefits at the point of payment, was the top way retailers could improve their loyalty experiences (41%).

This was followed by instantaneous rewards (39%) and more choice, by letting customers use loyalty credits across a wider range of brands or partners (31%).

Driving differentiation within loyalty

With six in ten consumers (58%) reporting a lack of differentiation within loyalty offerings, retailers are moving away from just offering blanket discounts in a bid to add more value to customers. It is also prompting retailers to experiment with how members unlock loyalty benefits outside of spending thresholds or purchasing value over time.

Sportswear retailer, Gymshark, for example, introduced its first loyalty scheme last year, which allows users to earn points by “sharing and showing up” – from brand engagement to completing workouts in its app.

New Look followed suit, unveiling its own scheme, Club New Look, which gives customers a blend of experience-based benefits, while Sephora’s MySephora members’ programme, often regarded as the gold standard in loyalty, offers tiers of personalised perks.

Learning from Sephora’s loyalty strategies

Sephora’s UK MD, Sarah Boyd, is confirmed to speak at RTS, which takes place at London’s ExCeL on 22 & 23 April 2026.  

Speaking on Day 1, she will discuss how the beauty retailer taps into its community to drive hype and growth. From ambitious store expansion to viral social buzz and new loyalty strategies, Boyd will share how Sephora is building on its high-octane momentum to meet the needs of next-gen shoppers.

Boyd joins 125+ of retail’s brightest minds on the RTS conference programme, which will feature six dedicated conference tracks offering sector-shaping insight.

As part of its all-star speaker programme, M&S Chairman Archie Norman, TALA Founder and digital broadcaster Grace Beverley, and Dragon’s Den star Touker Suleyman, will lead the headline discussions across the two-day event. 

To register to attend RTS 2026: www.retailtechnologyshow.com.