A survey by Citi Retail Services found that American consumers who participate in loyalty programs take steps to save money during the holidays. The study produced several interesting stats on consumer loyalty.
See the infographic below for a summary.
- Two-thirds of shoppers who are part of loyalty programs expect to save money this holiday season through their redemptions.
- 86% of shoppers are loyal to a brand whose loyalty program they participate in.
- Most shoppers expect to save around $149 during the holidays and one in three expect to save $200 or more.
- Half of shoppers use rewards to buy more gifts than they would otherwise.
- 26% of shoppers use rewards to buy gifts for someone they wouldn’t otherwise.
- 41% plan to use rewards on themselves for things they wouldn’t normally purchase.
- The average shopper participates in four rewards or loyalty programs.
- 90% of shoppers plan to utilize rewards programs during the holidays.
- 83% of Millennials participate in loyalty programs, 73% of Generation X, and 53% of Baby Boomers.
- The total rewards market is valued at an estimated $320 billion and is expected to reach $500 billion by 2019.