The power of plastic is growing. For years now, the popularity of reward-earning credit cards has steadily grown, and a new survey suggests that loyalty to credit cards has finally surpassed loyalty to airlines.
InsightExpress, an online research firm headquartered in Stamford, Conn., recently surveyed 500 consumers to find out which industry garners the most loyalty. Twenty-seven percent of those surveyed belonged to a credit card loyalty program, while just 19 percent were members of airline programs. Restaurants came in third with 16 percent, and hotel programs rounded out the survey at 12 percent. Move over, airlines — there’s a new leader when it comes to customer-loyalty programs.
Fifty-four percent of respondents indicated their primary motivation in signing up was the opportunity to earn awards, while 49 percent were more focused on potential discounts.
The president of InsightExpress, Lee Smith, summed up the results: “Loyalty programs have come of age.”