DALLAS -- Consumers rank fuel discounts above all other loyalty perks at retailers for the second year in a row, according to Excentus’ new “Road to Rewards Revisited” survey. The report highlights how reward programs can deliver value to consumers and affect their behavior. Here are four additional loyalty program findings from the study to apply to your business …
1. Fuel rewards mean everyday savings
Nearly two-fifths of consumers (37%) prefer fuel discounts over credit-card rewards, coupons, retailer points and instant discounts at the cash register, according to the survey. Respondents say they prefer fuel-saving rewards because they like saving money any way they can (39%) and they like earning rewards from everyday purchases made among a variety of retailers (23%).
2. Loyalty programs drive traffic
More than a quarter of consumers (26%) say they shop more frequently at stores where they can earn rewards, and roughly a fifth (17%) plan ahead to take advantage of rewards and promotions, the survey results showed. Another 14% said they shop only where they can earn rewards, and 13% would switch brands or visit a different store to save money on a rewards program.
3. Millennials want mobile loyalty
Two-fifths of this digital native generation rely on mobile apps to track and redeem their rewards. However, the use of plastic membership cards dropped by 4% during 2016 across all age groups, not just millennials, the survey showed.
4. Membership in fuel reward programs is growing
Membership in Excentus’ Fuel Rewards program grew by more than 9% during 2016. Likewise, consumer interest in saving on gasoline at the pump also rose by 2%, even as average gas prices dropped from $2.79 to $2.25 per gallon nationwide during the survey period.
Plunge in oil prices sets the stage for record margins and boost in in-store sales. Also In This Issue: Profitability skyrockets for top performers! Other channels seek to redefine convenience! The economy enters a new stage. The growing health-and-wellness trend. Fuel demand; oil's slide; multicultural momentum; and data, data, data!