Virgin Red reveals how loyalty programmes have impacted our daily lives
Virgin Red’s mission is to make everyday more rewarding, and in 2023 the role of loyalty programmes will become even more important for people.
In a new report conducted by Virgin Red, it’s been revealed just how valuable loyalty programmes are to people, and the ways in which spending habits have evolved since 2020. The research shows that 41% of participants actively collect loyalty points and 79% enjoy the process of watching their contribution grow – especially when there’s a two night stay in Virgin Hotels Edinburgh or a flight to New York on the horizon.
The research was commissioned by Virgin Red, which has launched its ‘Points Index’ report, to look at consumer trends and the role loyalty programmes play in daily life.
The Virgin Red Points Index
Andrea Burchett, Managing Director Commercial, Loyalty for Virgin Red, said: "While retail therapy may be paused for many consumers, the likelihood is they’ll find new ways to fill that void.
“Be that scouring the web for bargains, hight street shopping at opportune times, or looking out for items which come with added extras. Shopping smartly seems to be the way forward for the time being.”
Other insights revealed that of the 31% who’ve ever been on a shopping spree, 89% said the current economic situation has made this activity less enjoyable, so it’s no surprise the study found almost all customers (92%) have changed how they go about this.
It also emerged 56%of customers get more satisfaction now from finding bargains and products with extras such as loyalty points or cashback, than they used to before the cost-of-living crisis. The impact also shows in the savviness of today’s shoppers, with almost two thirds of customers (64%) claiming to be better at spotting deals. The study also found 75% of adults are signed-up to loyalty schemes.
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Commissioned by Virgin Red
The research of 2,000 adults (nationally representative sample) was carried out through OnePoll from 17 November 2022 until 24 November 2022.