Merkle released a special edition of its annual Loyalty Barometer Report to assess how consumer expectations of loyalty and rewards programs have been affected throughout a tumultuous year. The performance marketing company surveyed more than 1,800 U.S. residents aged 18 to 65 in July 2020.
“COVID-19 has led us to a pandemic economy impacting everyone in different ways. Loyalty marketing is the only sustained brand marketing program that helps maintain valuable relationships with consumers over time, while being directly linked to increasing shareholder value. Due to the changes we’ve faced this year, brands have experienced database churn, category switching by consumers, and a massive surge in eCommerce,” said Chris Wayman, executive vice president and general manager, Promotion and Loyalty Solutions at Merkle. “Gen-Z, millennials, Gen X, and boomers continue to favor loyalty marketing. Brands must differentiate themselves by creating an emotional connection and building trust, which can only be achieved by tailoring strategies to ensure that individual consumer needs are met.”
The report may be downloaded here.