I analyzed 100+ loyalty programs in the last 30 days.
Most brands still run loyalty like it’s 2009: Earn points, get a discount, repeat.
The top 10%? They’re using loyalty to change behavior- not just reward it.
If I were Head of Loyalty at a $10B+ brand today, here are the brands I would copy to build a program that drives LTV, repeat purchases, and real retention:
PAYMENT-LED:
1/ STARBUCKS: 34M members, $1.78B stored value, 3x higher spend from rewards members. My kids love their hot chocolate and cake pops – so Starbucks has a special place in my heart
2/ TARGET: Circle members spend 5x more, with $4B processed through their payment rails in Q1 alone. Huge creds to Efrain Irizarry
3/ 7-ELEVEN: 55M+ members, 38% of transactions through their app
4/ DUNKIN’: Wallet reloads driving 2.5x visits, 20% higher AOV
5/ CHASE SAPPHIRE: Premium card driving aspirational loyalty with travel and dining rewards aligned with luxury lifestyle; strong partner ecosystem
SUBSCRIPTION-BASED:
6/ AMAZON PRIME: Loyalty disguised as convenience
7/ RH MEMBERSHIP: Luxury subscription boosting margins
8/ COSTCO: Unbeatable renewal rates and loyalty lock-in
9/ PANERA UNLIMITED SIP CLUB: Daily engagement via low-cost subscription
AIRLINE & TRAVEL:
10/ UNITED: Loyalty program generated $1.8B in EBITDA (26% of total)
11/ DELTA: Loyalty now constitutes 57% of total revenue
12/ AMERICAN: 61% of flight revenue from AAdvantage members (used as $10B loan collateral)
13/ JETBLUE: Loyalty program worth $5.5B, more than half their financeable assets
RETAIL AND FASHION:
14/ ADIDAS ADICLUB: 240M+ members, 2x higher LTV, 50% more frequent purchases
15/ UNDER ARMOUR: Members 2x more likely to make repeat purchases within 90 days
16/ KITH: Early access, raffles, skip-the-line, exclusive events
17/ SEPHORA: Tiered rewards building emotional connection beyond discounts
QSR & FOOD SERVICE:
18/ CHICK-FIL-A: Loyalty tied to brand values, not just points
19/ SWEETGREEN: Personalized spend challenges over traditional points
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While many brands still hand out points like it’s 2009, top performers are building payment-loyalty loops that shape behavior- not just reward it.
Less old-school points.
More embedded wallets, subscriptions, and emotional incentives to drive customer engagement and brand loyalty.
The best brands don’t see loyalty as a marketing tactic, they treat it like a strategic financial asset.
PS: DM me “loyalty” to get the full Top 30 breakdown + our Loyalty Program Launch Checklist we use with leading fintech, retail, and QSR brands.