Research revealed that Gen Z-ers are more focused on earning rewards for recycling.
More Aussies want to earn loyalty programme rewards with “social impact” such as recycling, healthy behaviours, the annual Australian customer loyalty and loyalty programme research study For Love or Money 2020 revealed.
Earning cryptocurrency, cashback rewards and rewards to reduce the cost of everyday living expenses such as a phone, energy or insurance bills are also listed as preferences by over 1,000 consumers surveyed.
The report also revealed that rewards for recycling, healthy behaviours and rewards to boost their superannuation savings was more appealing to Gen Zs than Gen X, Gen Y and Baby Boomers.
“With the Australian loyalty program landscape maturing, it’s time for programs to focus on finding different and distinctive ways to improve the lives of their members,” report author and CEO of The Point of Loyalty, Adam Posner said.
Two-thirds of those surveyed believe that loyalty programs enhance their overall desire to “pursue a relationship and experience with the brand.”
“The impact a well-designed program can have on brand experience is often debated and it was interesting to find that 68% of members agreed a loyalty program can enhance their relationship with a brand,” Posner added.
Whilst members are concerned with data use and security, 63% indicated they are taking advantage of their rewards and benefits compared to 54% when first researched in 2016.
“While programs are improving all the time, they need to keep an eye on their data practices and the value exchange they offer their members for the data they gain,” Posner advised.
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