A new report found more than 54% belong to loyalty programs that enable them to save on the cost of fuel and rank these programs #1 for membership and activity over credit-card cash-back rewards, coupons, discounts, airline miles, hotel points and other rewards programs.
“The Road to Rewards,” a newly released consumer behavior report, which is part of the Excentus Insights Series, features results from a July 2015 survey of American consumers.
The company’s Road to Rewards report found that:
• 37% of consumers ranked fuel savings as their preferred rewards program, followed by
• 32% credit-card cashback programs
• 25% retailer/brand coupons
• 24% (tie) credit card rewards and cash-register instant discounts
• 22% retailer-specific points/rewards
• 17% airline miles
• 16% restaurant/grocer rewards
• 14% hotel points
Of the American consumers surveyed, nearly half of (46%) say they earn, buy, redeem or check their fuel-savings rewards daily or weekly. When asked why they join rewards programs, 47% say they like saving money any way they can and 23% like earning rewards on everyday purchases.
The survey also confirmed previous findings from Excentus, which operates the nationwide Fuel Rewards program, about consumers’ preference for fuel discounts even when gasoline prices fluctuate. More than two-thirds of the survey respondents (67%) say they pay attention to gas prices, and consumers agree it is important to save on fuel when gas prices rise (64%) or fall (54%).
According to the report, consumers belong to fuel-saving rewards programs offered by grocery stores (68%), retail stores (22%), credit cards (16%) and restaurants/dining venues (7%). When asked why they join, 46% say the rewards are offered as part of an existing loyalty program, 40% join to save money, 37% to earn rewards where they already shop, 19% to save on the cost of driving, and 15% because the incentive is linked to a credit card.
Incentives to save on fuel can also influence consumer shopping behavior and retailer brand preferences, according to the Excentus report. Almost one in five consumers (19%) would choose a different brand to earn 25-50 cents per gallon on fuel, 17%-20% would switch retailers to earn 25 cents to $1 per gallon on fuel, and 20% would purchase in-store rather than online to earn 25-50 cents per gallon on fuel.
Additional findings from the survey include:
• Millennials (ages 18-34) are more than twice as likely as other age groups to track their rewards from a mobile app (33% Millennials; 16% ages 35-54; 6% ages 55+)
• Midwestern consumers (57%) are more likely than those in the West (56%), South (52%) and Northeast (50%) to belong to a fuel-savings rewards program
• Women and men participate equally in fuel-savings programs (54% female, 53% male), while participation based on income varied by 11% (47% under $50,000, 58% over $50,000)
The survey of 1,016 U.S. consumers was conducted during July 10-13, 2015 by Ipsos eNation on behalf of Excentus Corp. The survey has a margin of error of +/- 3.1 percentage points.
At EXCENTUS, we create programs that help lower the cost of everyday life. Whether through direct-to-consumer programs like Fuel Rewards and fuelperks!, or through companies utilizing our Centego products and services, EXCENTUS proprietary software is the engine helping numerous loyalty and marketing programs drive down the cost of everyday commodities like gasoline. In fact, since 2012 we’ve helped consumers and small businesses across America save over $500 million at the pump. Creating real savings that positively affect the everyday lives of real people – that’s what EXCENTUS is all about. Founded in 1996 in Dallas, TX, EXCENTUS is a privately held company with more than 200 employees.
For data, background and forecasts on EXCENTUS: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).