Even though loyalty programs are pervasive in the business world today, they’re an old and ancient concept. Just like the evolution of anything else, it has also gone through multiple stages of metamorphosis. At its core, loyalty has been always about the personal relationship between merchants and shoppers. We will chalk out a chart of the evolution of loyalty programs.

1793:

The roots of loyalty can be traced back to the 18th century. Some American retailers under the tag of &ldquo....

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