In 5 to 10 years, the loyalty industry will look very different than it does today due to massive disruption. Industries are always changing, so perhaps the prediction that ‘loyalty will be revolutionized’ won’t be a shock to many, but accurately identifying the drivers and timing of significant change tends to be much more elusive.
Disruptions can come from a variety of different directions and trying to keep track of the trends from so many angles to effectively ‘see around the corner’ can be dizzying. Sometimes industry disruption comes from new enabling technology. Other times it comes from innovative business models. Occasionally it occurs as a result of a fundamental shift in the competitive landscape or industry value chain.
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