Saving Mobile Wallets with Loyalty Focus
Consumer use of mobile wallets has been frustratingly low, but there are some ways that could help accelerate adoption.
A new study by loyalty commerce solution Points reveals that 94 percent of respondents are interested in a mobile wallet that allows them to exchange points and miles between loyalty programs to grow balances. Almost half (49 percent) of consumers would like to see more relevant deals/offers from merchants via mobile wallets.
“Consumers are looking for that all-in-one solution when it comes to mobile wallets,” said Christopher Barnard, president at Points. “While adoption for mobile wallets has been gaining steam, loyalty is the missing piece to help users stay engaged in mobile wallets for the long haul. And on the flip side, the integration of loyalty into mobile wallets presents an incredible opportunity for loyalty programs to make their currencies more ubiquitous and more deeply engage their member base in a new way.”
Ultimately, retailers need to understand that loyalty is what drives engagement. Across the board, consumers are much more likely to engage with brands that offer as much flexibility as possible. In many ways, according to Points research, it can be as simple as adding a variety of ways/options for loyalty program members to earn and redeem rewards – especially through everyday purchases.
Additional noteworthy highlights from the study include:
+ 90 percent of respondents are likely or extremely likely to shop with a retailer that allows them to earn points and miles in their favorite loyalty programs.
+ 76 percent of survey respondents indicated they’re more engaged with loyalty brands when given more opportunities to earn and redeem loyalty points.
+ 65 percent of consumers would choose to shop at one retailer over another if they had the option to earn loyalty rewards in their favorite airline, hotel or travel brand on purchases.