REPORT·Aug 12, 2026·16 min
Loyalty That Actually Captures
Why most loyalty programs leak margin and how to design one where the mechanic is the data capture, not the discount. Four archetypes, one anti-pattern, and how to know which one fits your brand.
Jaume RosFounder, Loiale
The default loyalty program is a margin leak
Spend €100, earn 100 points, redeem 500 points for €5 off. This is the mechanic we found in 71% of the DTC brands we audited. It is also the single most reliable predictor of falling gross margin over 24 months. The program does not create retention. It gives away margin to customers who would have repurchased anyway.
Gated
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