Monday, May 20, 2024 A survey by Wakefield Research reveals how loyalty points are influencing American travel trends in 2024, with rewards programs driving significant changes. Personal travel remains a priority for many consumers this year, with rewards programs playing a crucial role, according to a survey of 1,000 US travelers conducted by Wakefield Research. As National Travel and Tourism Week begins, the second annual Travel Rewards and Loyalty Report from Barclays US Consumer Bank offers fresh insights into travelers’ priorities regarding loyalty programs and rewards in 2024.
This report delves into consumer attitudes, sentiments, and behaviors surrounding travel, loyalty, and rewards programs, emphasizing the importance consumers place on travel rewards and co-branded credit cards, and highlights consumer preferences and generational differences. Rewards points are so important that 37% of travelers in loyalty programs consider them a crucial part of their budget. A significant majority of cardholders (72%) find they benefit more from their credit card rewards programs than the effort they put into them.
This sentiment is particularly strong among Millennials, with 78% expressing this view. A substantial majority of travelers in loyalty programs (76%) believe they wouldn’t be able to take the same quality trips without these benefits. Additionally, 77% agree that their travel behavior would change significantly without rewards.
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