Colloquy releases new study on loyalty programs
Loyalty marketing consultancy and publisher Colloquy has issued a new study on loyalty program trends.
The study, titled "Segment Talk: The Difference Engine - A Comparison of Loyalty Marketing Perceptions Among Specific U.S. Consumer Segments," surveyed 3,000 consumers. It focused on three loyalty industry categories: financial services, travel and retail.
Colloquy and its research partner found that more than 40 percent of both young adults and Hispanics self-identify as loyalty program participants. These two demographic categories also reported the highest instances of becoming retail customers due to loyalty programs.
Young adults and Hispanics also report higher-than-average redemption of electronics, magazine subscriptions and entertainment-related offers. The report predicts future growth in loyalty program activity for both segments.
Colloquy's research also showed that consumers are less interested in charity-oriented programs than in other loyalty offers. Nine out of ten people surveyed said they redeemed most loyalty offers for personal gain.
The full study focused on six consumer segments: a control group titled General Adult, an affluent segment with incomes greater than $125,000, young adults, seniors who were 60 years and older, core women between the ages of 25 and 59 years with incomes between $50,000 and $125,000, and Hispanics with an income of $40,000 or higher. The full report of Colloquy's findings is available for free at http://www.colloquy.com/whitepapers.