Loyalty360 Reads: February 22nd, 2019

FinTech Firms Now Comprise 38 Percent of Personal Loan Market
 
The FinTech market reached an all-time high last year, and consumers seem to prefer using them for personal loans over traditional banks. “The rapid growth in consumer loans sits squarely on the shoulders of FinTechs,” says Jason Laky, Senior Vice President and leader of TransUnion’s consumer lending line of business, in an interview with CNBC. “They continue to be the main driver.”
 
American Eagle Offers Rentals
 
American Eagle has launched a rental subscription service for its clothing. For around $50 per month, subscribers can rent up to three articles of clothing, with the option to buy at a discounted rate. Some have predicted that rentals will become a fixture of the fashion industry (and that renting will become common in other industries as well), and this offering is a confirmation of that trend.
 
Accor Partners with PSG, Launches Loyalty Program
 
Accor Hotels has launched a new program, dubbed ALL. While Accor’s previous loyalty strategy was largely traditional, ALL is a “fully integrated global platform integrating rewards, services, and experiences across its entire ecosystem.” The new program is a lifestyle program that will be web and app-based.
 
Layoffs at PepsiCo
 
In an effort to get “leaner and more agile,” PepsiCo has begun a round of layoffs. The company expects to spend $2.5 billion on restructuring through 2023. The restructuring will see the company simplified into four regional US divisions and one Canadian division. PepsiCo will also be pursuing automation.
 
 

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