The benchmark for loyalty
and referral programs

The real numbers behind loyalty and referral programs, measured on the ecommerce brands powered by Loyoly.

Data updated on October 19, 2026

One KPI, every industry.

Explore the metric that matters most.

Pick a KPI, see its value in every sector and browse the full distribution of programs, down to the ones that stand out for inspiration.

Definition

Referral conversion rate

The referral conversion rate measures the proportion of referrals who make a first purchase after receiving an invitation or referral code. It assesses your brand's ability to convert a referral into an actual acquisition. A good rate reflects a clear promise, a well-positioned advantage and a frictionless purchasing journey for the referred customer.

Formula

Referrals who made a purchaseTotal referrals invited

×100

By industry