A majority of consumers, 80%, would pay with points online or in the store if the option was available.
That's a prime finding of research from Engage People, a loyalty network that commissioned The Wise Marketer to conduct its "2022 Rewards Redemption Survey: US Consumer Attitudes and Preferences."
The survey polled 500 U.S. consumers in late summer and revealed "significant support" for pay with points, according to a press release.
When it comes to loyalty program motivators among consumers, 79% reported "earning specific awards" among their top three choices of desired reward program benefits.
"This year's findings provide tangible data that highlights the continued adoption of PwP both online and in-store," Len Covello, CTO of Engage People, said in the release. "It's clear that PwP is becoming more pronounced among retailers, loyalty program sponsors and consumers, especially during a period of high inflation, as reported by The Wise Marketer. Points as a redemption option offer more flexibility for consumers to purchase what they want or need while creating strong brand affinity for banks and retailers, as well as an increased likelihood of repeat customers."
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November 30, 2022 at 08:00PM
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Consumers would love to pay with loyalty pointsRetail Customer Experience - Retail Customer Experience
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