Frequent flyers points and in-store vouchers are the most attractive loyalty rewards for Australian consumers, a Galaxy Research poll commissioned by Virgin Australia shows. It also confirmed credit card spending is motivated by loyalty rewards. Key findings include:
- In store vouchers (71%) edged out frequent flyer points (66%) as the most popular rewards.
- 68% of research respondents are more likely to use a service or purchase a product because they will receive points.
- Gen Y are the most point-hungry generation with 80% of 25 to 30 year old respondents saying they are motivated to buy a product or service to earn points
- This compares with 69% of Gen X respondents and only 57% of Baby Boomer respondents
- Gen Y are also the most active users of their points, with 25% saying they redeem their points more than six times a year compared with 18% for both Gen X and Baby Boomers.
The research findings have been released to coincide with a Billion Point Giveaway from Velocity Frequent Flyer, the loyalty program of Virgin Australia.
Velocity will give away an additional 15% bonus points to consumers who transfer their eligible credit card and flybuys points into Velocity Points before 31 May.