U.S. Consumers Prefer Fuel Rewards

 

A recent survey from Excentus found that 54% of consumers belong to loyalty programs that enable them to save on the cost of fuel and rank those programs No. 1 for membership and activity over credit card cashback rewards, coupons, discounts, airline miles, hotel points, and other rewards programs.

The survey—which polled more than 1,000 U.S. consumers between July 10 and 13—also shows that 46% of consumers say they earn, buy, redeem, or check their fuel-savings rewards daily or weekly. When asked why they join, 47% say they enjoy saving money any way they can, and 23% say they like earning rewards on everyday purchases.

“This survey confirms what our merchant partners and over five million members have been telling us for the last three years,” said Brandon Logsdon, president and CEO of Dallas-based Excentus, in a press release. “Today’s consumers clearly value the ability to earn rewards—like fuel savingsthat have a meaningful and tangible impact on their household budget, making everyday life more affordable. At a time when consumers have so many choices for marketplace incentives and loyalty programs, it’s not surprising that the rewards they prefer and engage with most actively are built into everyday shopping and spending routines with their favorite merchants.”

Other incentives
According to the survey, consumers belong to fuel-saving rewards programs offered by grocery stores (68%), retail stores (22%), credit cards (16%), and restaurants/dining venues (7%).

Incentives to save on gas can also influence consumer shopping behavior and retailer brand preferences, as about one in five (19%) consumers would choose a different brand to earn between 25 and 50 cents per gallon on fuel; 17-20% would switch retailers to earn 25 cents to $1 per gallon; and 20% would purchase in-store rather than online to earn 25 to 50 cents per gallon on fuel.

Other findings
Thirty-seven percent of consumers ranked fuel savings as their preferred rewards program, followed by:

  • 32% credit card cashback rewards
  • 25% retailer/brand coupons
  • 24% (tie) credit card rewards and cash-register instant discounts
  • 22% retailer-specific rewards
  • 17% airline miles
  • 16% restaurant /grocer rewards
  • 14% hotel points

Age, sex, location

  • Millennials (ages 18-34) are more than twice as likely as other age groups to track their rewards from a mobile app (33% Millennials; 16% ages 35-54; 6% ages 55+)
  • Midwestern consumers (57%) are more likely than those in the West (56%), South (52%) and Northeast (50%) to belong to a fuel-savings rewards program
  • Women and men participate about equally in fuel-savings programs (54% female, 53% male), while participation based on income varied by 11% (47% under $50,000, 58% over $50,000)
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