LEWISVILLE, Texas, May 30, 2018 /PRNewswire/ -- New research*
commissioned by Hawk Incentives, a Blackhawk Network business that
provides rewards and incentives solutions, finds that the
millennials surveyed now belong to more loyalty programs than the
older respondents. The survey, which focused on consumer
preferences for loyalty programs, also found that the millennials
surveyed appear to be driving consumer preference for prepaid and
gift card rewards in loyalty programs.
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"As shopper habits have evolved and the world has become
increasingly digitized, there has been a lot of discussion on the
staying power of loyalty programs. This research demonstrates that
loyalty programs and modern reward options have kept up with
consumer trends and continue to appeal to younger generations,"
said Theresa McEndree, vice
president of marketing, Hawk Incentives. "Our research also
indicates that businesses designing loyalty programs with
millennials in mind will benefit from offering an array of prepaid
and gift card rewards, in both physical and digital options."
The research findings were based on a survey of more than 1,500
American adults, including 645 millennials, on their preference and
attitudes toward loyalty programs across a range of categories,
including retail, airline, hotel, food & beverage, online
retail, bank, gym, telecom and utility. Key findings include:
Millennials belong to more loyalty programs and are more
active in them: As a whole, the respondents surveyed belong to
6.2 loyalty programs on average; millennials belong to 6.5.
Additionally, as a whole, respondents report that of the loyalty
programs they participate in, they are active in 3.9 programs, on
average. Millennial respondents report being active in an average
of 4.2 programs.
Cards are favored for rewards: When considering a variety
of loyalty program rewards, some type of card (be it gift or
prepaid, physical or digital) keeps younger audiences engaged in a
loyalty program or would encourage them to sign up for a new one.
Fifty-five percent of millennial respondents report some type of
reward card would keep them most engaged, versus just 47 percent of
baby boomer respondents. Additionally, 82 percent of millennial
respondents would be interested in redeeming loyalty points for a
gift card or prepaid reward card. Lastly, millennial respondents
are more likely to prefer to redeem loyalty points for a prepaid
card than any other generation.
Millennials are more likely to pick digital options as
rewards: While 56 percent of millennial respondents say it
doesn't matter whether they receive a digital or physical reward,
65 percent prefer digitals rewards, versus only 45 percent of
boomers. Additionally, millennial respondents are most likely to
prefer a digital reward in the airline, retailer and gym
categories.
Millennials are more likely to belong to online retailer and
food & beverage loyalty programs: Membership to an online
retailer's program is more likely among millennials than any other
age group; 41 percent of millennial respondents belong to an online
retailer loyalty program, versus just 29 percent of Gen X and 25
percent of boomer respondents. Millennials are also more likely to
belong to a food & beverage loyalty program than boomers (46
percent versus 36 percent of respondents, respectively).
Millennials are less likely than the other generations to be
members of airline and hotel loyalty programs.
Download the infographic for more details.
*About Consumer Loyalty Verticals Research
The
consumer loyalty verticals research was an online survey conducted
independently by Leger on behalf of Hawk Incentives between February 5 and February 15, 2018. The
sample size included 1,500 American respondents ages 18+. A
probability sample of the same size would yield a margin of error
of +/-2.5%, 19 times out of 20. "Millennials" comprised respondents
ages 22 to 37.
About Blackhawk Network
Blackhawk Network Holdings,
Inc. (NASDAQ: HAWK) is a global financial technology company
and a leader in connecting brands and people through branded value
solutions. Blackhawk platforms and solutions enable the
management of stored value products, promotions and rewards
programs in retail, ecommerce, financial services and mobile
wallets. Blackhawk's Hawk
Commerce division offers technology solutions to businesses
and direct to consumers. The Hawk Incentives division
offers enterprise, SMB and reseller partners an array of platforms
and branded value products to incent and reward consumers,
employees and sales channels. Headquartered in Pleasanton, Calif., Blackhawk operates in 26 countries. For
more information, please visit blackhawknetwork.com,
hawkcommerce.com, hawkincentives.com or our product websites
GiftCards.com, giftcardmall.com, Cardpool.com, GiftCardLab.com and
OmniCard.com.
About Hawk Incentives
Hawk Incentives, a Blackhawk
Network business, is a leading provider of rewards and incentives
to organizations across the globe, including many of the Fortune
500. We power an inspiring brand experience with proven delivery of
customized rewards for consumer, employee, sales and channel
incentive programs. Our expansive rewards portfolio includes
multiple patents and industry firsts, including digital and mobile
rewards. To learn more, visit www.hawkincentives.com.
Hawk Incentives, headquartered in Lewisville, Texas, is a division of Blackhawk Network.
MEDIA CONTACT:
Ashley
Jackson
719-332-3495
ashley@fletchergroupllc.com
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SOURCE Hawk Incentives, a Blackhawk Network business