Loyalty reward programs where consumers receive extra benefits from a vendor for using their products/services are more favored by Gen Z and Millennials compared to older generation consumers.
Moreover, a Loyalty Member survey found that a growing number of consumers are willing to pay a fee for enhanced loyalty benefits, and this trend is stronger among the younger generation consumers as well.
Not surprisingly, the technology for online buying available via smartphones is attractive, yet the survey also found that loyalty programs for any age group are still enhanced by human interaction with a company representative.
The hotel industry is notable in the Loyalty Report because they are one of the top industries showing a large uptick in loyalty member spending, up 95 percent.
Read more at Hotel Management