Industry-predominant KPIs focus on engagement; Lack direct link to value creation.
Chicago, IL — March 11, 2026 — KYROS, the world’s only actuarial firm dedicated exclusively to loyalty programs, today announced the release of its new trends report, The Hidden Economics of Loyalty: 2026 Trends from High-Performing Loyalty Programs.
As loyalty programs face tighter budgets and sharper scrutiny from finance leaders, a new report from KYROS reveals a growing disconnect between how loyalty performance is measured and how value is actually created. While enrollment remains steady, economic headwinds point to a decreasing trend in members reaching the behaviors that materially increase customer lifetime value. The decline in trends around activation, repeat earning, and redemption signal that long-term profitability is being put at risk.
“Loyalty programs are being asked to justify their existence in a new way,” said Len Llaguno, Founder and Managing Partner at KYROS. “Engagement metrics alone are no longer enough to justify value. With economic pressure mounting, leaders need an unassailable way to understand whether loyalty is driving long-term value.”
Key findings also challenges long-held assumptions about redemption and breakage, showing that redemption is often a signal of value creation rather than a cost when evaluated through the lens of Customer Lifetime Value (CLV).
Designed for loyalty, finance, and marketing leaders, the report introduces a practical framework for understanding loyalty performance in economic terms. It introduces a shared economic language to evaluate performance, align stakeholders, and make more informed decisions about investment, risk, and growth.
The full report, The Hidden Economics of Loyalty: 2026 Trends from High-Performing Loyalty Programs, is now available for download at kyros.com.
About KYROS
KYROS is the world’s only actuarial firm dedicated exclusively to loyalty programs. We help finance and marketing leaders solve the two actuarial problems that define program success: proving ROI and de-risking points liability. KYROS partners with leading brands including Expedia, Avios, Wyndham, Red Roof, Hawaiian Airlines, Bilt, and Fanatics. Learn more at kyros.com.
