Mumbai: Almonds Ai, a leading provider of AI-powered solutions for b2b channel partner engagement and loyalty, unveils India’s only comprehensive report dedicated to the Indian channel partner loyalty market. Channel Loyalty Report 2024 offers current market analysis and future projections poised to dominate 2024 and beyond, providing actionable insights for businesses to unlock success with their channel partner engagement, experience, loyalty, and rewards market.

The Indian b2b channel partner loyalty is 24,000 crore market and, growing at a CAGR of 15 per cent annually. This presents a significant opportunity for businesses to engage their channel partners and cultivate lasting relationships.

Key Highlights:

.  55.8 per cent of companies recognize that loyalty programs play an essential role in overcoming the challenges posed by the inflation crisis and potential recession.  

 .  68.6 per cent of respondents plan to increase or significantly increase their investments in channel partner retention programs.

.   90 per cent of channel partners admit that they are more productive and attached to a loyalty program if it includes some gamified elements.  

.   The government of India has reintroduced IMPS to increase the immediate payment while strengthening the TDS system through section 194R.  

 .  The impact of loyalty programs extends beyond economic uncertainties, responsible for an impressive 18 per cent-30 per cent surge in spending and visit frequency.

.   Green Loyalty Programs are considered as the future of GenZ loyalty programs with its environmentally positive approach to loyalty.

Commenting on the report release, Almonds Ai co-founders Abhinav Jain & Apurv Modi jointly said, "Gone are the days of one-size-fits-all loyalty programs. Today's B2B partners crave personalisation, innovation, and a connection to purpose. Our report reveals the key trends and technologies businesses need to embrace to forge deeper connections and unlock the true potential of this market."