Dallas — For the third consecutive year, U.S. consumers ranked fuel savings as the preferred loyalty program reward, with 39 percent of shoppers saying the inventive is their favorite, compared with 35 percent that prefer cash-back rewards, according to a survey by loyalty marketing and technology company Excentus Corp.
The company notes that memberships in fuel loyalty programs have increased 10 percent during the past two years, with 64 percent of U.S. shoppers participating in these types of initiatives.
The popularity of these programs persist despite movements on gas prices, with 73 percent of consumers saying it is important to earn rewards that save on fuel costs when gas prices rise, and 58 percent saying the same when prices of gas decline, according to Excentus.
“The report illustrates — among other findings — that consumers place immense value on savings at the pump, perceiving those savings as equivalent to cash,” says Brandon Logsdon, Excentus CEO. “For brands and retailers, this means that cents-per-gallon fuel savings are the currency most likely to increase frequency, customer interactions and new revenue opportunities.”
Excentus reports that loyalty programs are having greater influence on consumer behavior, with 36 percent of shoppers making more trips to stores that offer fuel savings, compared with 26 percent of consumers with the same motivations in 2016.