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When Loyalty360 talked to Christopher Barnard, president at Points.com, last year about the future of customer loyalty, his definitive response was: Flexibility.
“Flexibility in where rewards are earned and how they are spent,” Barnard said at the time. “Flexibility in trading and exchanging rewards between programs in different industries. And flexibility in accessing and interacting with loyalty rewards on any device, at any time. Loyalty currency is only as valuable as it is accessible so, as the ubiquity of loyalty increases, so will the engagement of program members.”
Barnard’s comments pertaining to flexibility ring true in a new survey from Collinson Latitude that says today’s travelers demand more redemption choices to secure their customer loyalty. The survey of 1,000 airline and hotel loyalty program members across the U.S. reveals that most travelers expect greater choice and flexibility in how they redeem their loyalty currency.
What’s more, 68 percent of loyalty program members are looking for more choice of rewards besides the traditional offerings of flights and hotels. Nearly half (45 percent) described redemption programs only offering these rewards as ‘dated’ and ‘old fashioned’.
Now in its second year, The Value of Redemption survey showcases the particular value of a broader redemption proposition for both inactive, as well as those members living outside of the program’s core domestic market.
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