A new survey from CloudZync via a poll of 2,000 consumers shows that while the average leather wallet now contains four loyalty cards, people have access to six schemes on their handsets.
Supermarkets are falling behind in the digital race - 92% of respondents have a physical card for Tesco, Sainsbury's or one of their rivals yet only 36% have a mobile scheme.
Furthermore, loyalty card users have on average £83 worth of redeemable points across their schemes at any point in time, and UK shoppers have cashed in on over £4 billion worth of points over the past year.
However, around £150 million in points remain unclaimed. Explaining why, 27% say that it takes too long to start earning benefits, 18% say they don't carry their cards in their wallets, and 14% don't remember to add on their points even when paying in-store.
In other words, traditional retailers are operating in ‘inertia-land’, on the assumption that low redemption rates will continue…
However, as with the infamous Hoover air-miles fiasco, if consumers are presented with more effective ways of managing their loyalty point redemption, current levels of inertia could disappear and be replaced by soaring redemption-levels, well beyond retailer expectations…
An app-nightmare in the making?
Supermarkets are falling behind in the digital race - 92% of respondents have a physical card for Tesco, Sainsbury's or one of their rivals yet only 36% have a mobile scheme.
Furthermore, loyalty card users have on average £83 worth of redeemable points across their schemes at any point in time, and UK shoppers have cashed in on over £4 billion worth of points over the past year.
However, around £150 million in points remain unclaimed. Explaining why, 27% say that it takes too long to start earning benefits, 18% say they don't carry their cards in their wallets, and 14% don't remember to add on their points even when paying in-store.
In other words, traditional retailers are operating in ‘inertia-land’, on the assumption that low redemption rates will continue…
However, as with the infamous Hoover air-miles fiasco, if consumers are presented with more effective ways of managing their loyalty point redemption, current levels of inertia could disappear and be replaced by soaring redemption-levels, well beyond retailer expectations…
An app-nightmare in the making?
