Cashing Out: What Consumers Expect from Loyalty Programs
A new Wiser Research report has been published by Wise Marketer Advisory and Research and Engage People that is the fourth annual U.S. consumer research study they've completed in partnership with each other. The study titled "Cashing Out: What Consumers Expect from Loyalty Programs" draws insights from 1,000 U.S. consumers on their expectations from loyalty programs, their propensity to switch between brands, and their preferences both 'what' and 'how' they utilize their loyalty currency to receive rewards.
Key insights from this report include:
Significant motivators for loyalty program members that drive program engagement continue to be tangible rewards, such as cash and discounts or loyalty-driven currencies.
An ability to Pay with Points (PwP) remains a strong preference that provides flexibility and immediacy for members choosing reward redemptions.
Consumers are adopting a 'savvy consumer mindset' as consumers engaged in loyalty programs remain highly sensitive top rice and are largely open-minded to switching between brands.
And more ...
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