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GLO
What’s the point of loyalty in a cost-of-living crisis? How does consumer behaviour change during times of economic uncertainty?
GLOIAG Loyalty report key takeaways:
- 92% of respondents stating they’re using them to provide additional value during this cost-of-living crisis
- when redeeming, on average 80% of people consider themselves rational decision makers and 20% emotional decision makers which supports our view that customers have become more rational (63% for 18-24-year-olds to 93% for the 65+ age group);
- if they could, respondents would prioritise their spending on treats (65%) and an annual summer/ winter holiday (53%) ahead of birthdays (42%), streaming services (40%) and live entertainment (34%)
- Over 50% of respondents are finding new ways to collect loyalty points, whilst allegiance to brands that offer loyalty programmes will increase for one in five people
- Respondents have most loyalty to family/partner and friends but more loyalty to holidays than employers; women over-index on people, products and pets, whereas men over-index on sports teams, their home town and country of birth.
