Study – Americans will save on gifts with loyalty points

Cincinnati – Ever wonder what to do with all those unused loyalty points you probably have floating around? According to a survey of 1,000 U.S. consumers by loyalty intelligence provider Colloquy, six out of 10 shoppers intend to use points they’ve earned through customer-loyalty programs to save money on holiday gift-buying this year.



That represents a 22% increase in the number of shoppers who are planning to cash in reward points on gift purchases, compared to the 2013 holiday season.



In the Millennial demographic (ages 18-34), the intent to use reward points for gift-buying shifts dramatically upward compared to the general population (ages 18-45-plus):



• 63% of consumers ages 18-24 plan to use points on gifts in 2014, representing a 43% increase over last year;

• 71% of consumers ages 25-34 say they’ll cash in reward points for gifts, a 34% increase over 2013.



Approximately 62% of consumers ages 35-44 say they’ll redeem points for gifts, a 19% jump over last year, and 54% of consumers ages 45 and older say they’ll trade points for gifts, a 20% increase over 2013.



Here are some other key findings from the Colloquy Holiday Loyalty Shopper study:



• 35% of shoppers plan their holiday purchases to maximize their customer-reward earnings during the gift-giving season;

• 20% of shoppers adjust their gift ideas based on which products offer significant bonuses and related rewards;

• 40% of women and 31% of men say that when shopping this holiday they’ll choose retailers that operate customer-reward programs in which they participate;

• 10% of shoppers say that so-called soft benefits, such as early access to a product or event, would be a strong incentive to patronize a specific store;

• Gift cards (52%), coupons (49%) and cash-back offers (48%) rank highest among survey takers for encouraging shopping at a specific store.