Report: Canadian loyalty program usage
Toronto-based research company Colloquy has released a report on the use by Canadian consumers of loyalty programs. According to the biennial study, consumers in this country hold 175 million memberships in such programs. This represents a 35% increase from the previous study in 2015, when the figure was 130 million. Of these memberships, 51% are in retail loyalty programs, while 19% are in financial services programs, 14% in travel or other types of programs and 16% in coalition programs.
According to the survey, 32% of consumers report feeling "overwhelmed" by the number of loyalty programs in operation. In addition, 46% said that loyalty programs are "nothing more than marketing schemes."
"The membership increase signals that Canadians still find loyalty programs fun and rewarding," said Melissa Fruend, author of the report for Colloquy. "Successful programs today are bridging the gap between loyalty and great customer experience. Retailers can't afford to become complacent. To sustain success, they still need to create more personalized and relevant experiences for their best customers."