In today's fast-paced and ever-evolving economic landscape, forging strong customer relationships has never been more important. Modern consumers expect more than just transactions; they look for brands that offer meaningful experiences aligned with their values, needs, and lifestyles. Rewards and benefits programs have emerged as a pivotal way to meet these expectations, helping businesses boost engagement, cultivate loyalty, and stand out in increasingly crowded markets.
Recent research commissioned by Collinson1, targeting high-spending credit card users, delved deeper into the value of rewards, benefits, and loyalty programs from a consumer perspective. By analyzing their preferences, behaviors, and expectations, valuable insights have been gained on preferred rewards and how they influence brand loyalty, customer satisfaction, and purchasing decisions. With the desire for rewards spanning across the entire consumer ecosystem, these insights can be applied to any industry valuing loyalty, engagement, and growth.
The Power of Loyalty and Rewards Programs
Many consumers now take it for granted that they’ll receive something in return for their loyalty. Airlines, supermarkets, hotels, and restaurants are some of the best-known providers of these programs, each tailoring perks to match their customers’ individual preferences. Even e-commerce platforms, retailers, and telecom services have adopted similar strategies, underscoring how widely applicable loyalty programs have become.
Insights from above referenced research revealed a striking 92% of consumers would use a brand more frequently if it offered rewards or benefits, and 92% of respondents expressed a willingness to explore additional products and services if rewarded for their loyalty. These numbers demonstrate loyalty programs are not merely "nice-to-have" features; they are key drivers of customer retention and engagement.
The shift from material possessions to memorable experiences
According to Cornell psychology professors Travis Carter and Thomas Gilovich, experiences bring people greater happiness and a sense of well-being than material goods, as value of experiences lies in their intangible nature, as they leave a lasting impact on individuals long after the experience has ended2. To further this shift, consumers are willing to cut discretionary spending in order to travel.
The impact of travel rewards on engagement, loyalty, and growth
The International Air Transport Association (IATA) has predicted air passenger numbers to reach 5.2 billion in 2025, a 6.7% rise compared to 2024 and the first time that the number of passengers will have exceeded the five billion mark.3 With the shift of consumers valuing memorable experiences over material possessions, it seems evident that travel rewards are a high priority for consumers and a huge area of opportunity for brands to differentiate themselves from an already crowded market.
Of respondents surveyed in Collinson research1, when asked how they would feel if travel-related benefits were offered to them from brands they interact with:
62% would feel rewarded for their engagement
60% would feel a sense of loyalty to the brand
59% would feel they are a valued customer
For more valuable insights on increasing customer engagement through highly valuable travel rewards, read our full report.
Collinson stands at the forefront of travel enhancements by consistently aligning its products and services with evolving market needs. Leveraging over 30 years of expertise and partnerships spanning 1,400 banks, 90 airlines, and 20 hotel groups, Collinson transforms every trip into a smoother, more enjoyable journey. Through rigorous research and customer-focused innovation—exemplified by Priority Pass Wholesale Digital, an end-to-end travel experiences solution. Collinson delivers unmatched lounge access and exclusive rewards, reflecting travelers’ rising preference for comfort and memorable experiences. This commitment to service excellence not only fosters loyalty and drives engagement but also ensures that Collinson remains a trusted global leader in making travel as rewarding as exciting.
1 Consumer Behavior Studies in Americas, Collinson 2024 2 S. Agarwal, From Possessions to Experiences: The Shifting Paradigm of Customer Value, LinkedIn, 2023 3 Strengthened Profitability Expected in 2025 Even as Supply Chain Issues Persist, IATA, 2024
