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Some loyalty programs miss mark among consumers, study finds
NEW YORK — A report released Tuesday by payment system provider ACI Worldwide found that many retail loyalty programs leave consumers feeling underappreciated, and many consumers are enrolled in a program they don’t completely understand.
Although 3-out-of-4 Americans are members of at least one retail loyalty card program, 85% of those surveyed said that they haven’t heard a single word from a loyalty program since the day they signed up. Likewise, 81% said they don’t even know the benefits of the program or how/when they will receive rewards.
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Expect consumers to tighten their spending amid high gas prices
NEW YORK — Rising gas prices will prompt consumers to be more mindful of their spending habits, according to Nielsen projections.
In the United States, Nielsen noted, households could be paying an extra $52.50 with a 50-cent increase in gas prices, $105 with a $1 increase and $210 if prices jump up $2, prompting consumers to tighten their wallets. This will mirror historic trends, which include increased trip compression, more value-conscious shopping alternatives and increased use of coupons, Nielsen said.