The Forrester Wave™: Loyalty Platforms, Q4 2025
Vendors or products added in this year’s report may indicate a change in the market, change in evaluation criteria, or change of focus by the vendor.
No vendors were added in this report.
Vendors or products dropped from one year to the next may indicate a change in the market, change in evaluation criteria, or change of focus by the vendor.
No vendors were dropped in this report.
The Forrester Wave evaluation is an assessment of the top vendors in the market; it doesn't represent the entire vendor landscape. Additional vendors that Forrester considers to be notable for enterprise clients can be found in the corresponding report: The Loyalty Platforms Landscape, Q3 2025.
A: Vendors are included based on specific inclusion criteria: broad enterprise-level support, solution available as standalone product, substantial revenue in the market (at least $50 million USD in annual revenue from the loyalty platform in the last four quarters), and mindshare among Forrester's enterprise clients. Vendors that decline to participate or only partially participate are scored using primary and secondary research, public information, data gathered via briefings, and independently sourced customer interviews. The evaluation used materials provided by vendors by September 16, 2025, and readers are encouraged to evaluate how the market and vendor offerings change over time.