Loyalty programs (LPs) are widely used to manage customer relationships, but evidence on their effectiveness remains mixed. We argue that LP effectiveness should be understood across the recurring customer journey rather than as a single aggregate effect. We meta-analyze 434 effect sizes from 78 independent samples comparing LP members and nonmembers; classify outcomes into pre-purchase, purchase, and post-purchase stages; and test LP design characteristics and product types as moderators. Results show that LP membership is positively associated with outcomes across all three stages, with the strongest integrated effect in the purchase stage. Moderator analyses further indicate that LP effectiveness is stage-specific and depends on both program design and product type. These findings extend LP research by showing that mixed evidence on LP effectiveness partly reflects differences regarding where outcomes occur in the customer journey and under which conditions LP membership effects are assessed. For retailers, the results suggest that LPs should be designed around stage-specific objectives rather than treated as uniform incentive systems.
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