This chapter provides a review of the main studies that have been carried out on loyalty programmes. Loyalty programmes are a key marketing tool employed by companies, or a coalition of companies, to reward customers for positive behaviours towards their brand. We specifically focus on the key characteristics and performance of such programmes, and on new avenues for innovation. The current evidence from scholarship reveals that, under certain conditions, loyalty programmes can drive higher attitudinal and behavioural loyalty and influence customer purchase behaviour. Loyalty programmes also represent a key opportunity for companies to gather actionable customer data that could be employed to develop appropriate and profitable customer relationships and achieve a competitive advantage.