Marketers have spent years obsessing over loyalty programs. Consumers, meanwhile, have apparently been judging brands within the first purchase and then deciding whether the points are worth collecting later.
That's one of the biggest takeaways from Merkle's 2026 Loyalty Barometer, which surveyed 2,000 U.S. consumers across 10 industries. The report argues that loyalty programs don't actually create loyalty. They simply magnify whatever customers already think about the brand. Great experiences become stronger relationships. Bad experiences become...well...a very organized list of reasons to shop somewhere else.
The study found that 62% of consumers ranked an excellent first purchase experience as one of the top two drivers of loyalty, more than double any other factor. Even more interesting for marketers, exclusive access and personalized recommendations posted the biggest year-over-year gains, suggesting consumers increasingly want brands to know them without acting like a creepy neighbor peeking through the blinds.