Welcome to the Financial Times Lexicon

Browse thousands of words and phrases selected by Financial Times editors and suggest new terms for the glossary.


Term of the day

loyalty programme

Companies often try and drive behavioural loyalty through the simple frequency programmes (FPs) that are designed to reward customers who buy frequently and in substantial amounts (for example, every fifth purchase is free), or through more complex loyalty/ membership programmes that have a much wider range of objectives according to different levels of membership.

The latter aims to develop long-term, cost-effective links between an organisation and its customers for the mutual benefit of both...