Many grocery jobs are being supported by customer loyalty programs, although there is potential for customers to spend even more in rewards. Visit http://grocery.coloradojobs.com to find job openings.
"2011 Forecast of U.S. Consumer Loyalty Program Points Value," a new report from Colloquy and Swift Exchange, found that shoppers receive about $48 billion in rewards points and miles every year. However, nearly $16 billion of those rewards go unused.
On average, each household that participates in loyalty programs brings in about $622 per year, but fails to redeem about $205. That represents a huge amount of untapped money, both for the consumer and the retailer.
"American consumers are leaving significant dollars on the table every year," Colloquy Managing Partner Kelly Hlavinka said in a statement. "This report should alert savvy consumers to a great opportunity to stretch household budgets, and to do so by simply consolidating their loyalty rewards participation with their favorite brands, making it easy to accumulate and redeem them faster than ever imagined."
The study includes customer reward programs from travel and hospitality, retail, and financial services companies. Of those, financial services companies offer the most rewards, at $18 billion per year, followed by the travel and hospitality industry at $17 billion per year, and the retail industry at $12 billion per year.
The study further found:
- There are 2.1 billion loyalty memberships in America, a 16 percent increase from 1.8 billion in 2009.
- The average household is signed up for 18.4 programs, which is up from 14.1 programs two years ago.
- The average household actively participates in 8.4 programs.
