Consumers are leaning on loyalty programs to stretch household budgets further by earning rewards for their purchases. The retail category demonstrates the highest positive impact in reward program attitudes, with 75% of 2,152 surveyed reporting a net neutral or positive effect on their program participation as a result of the economy. The Financial Services sector remained relatively flat, with 52.7% reporting "no difference" in the impact of the recession on program participation.
- One-third of consumers find retail loyalty programs "more important" when battling tough times
- 18 to 25 year old Millennials represent fasting growing demographic
Source : Colloquy