Table of Contents
Scope and Themes
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- What you need to know
- Data sources
- Consumer survey data
- Direct marketing creative
- Abbreviations and terms
- Abbreviations
- Terms
- Companies mentioned in this report:
- Generations
Executive Summary
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- The market
- Competitive landscape
- Brand awareness and usage
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- Figure 1: Brand usage and awareness of loyalty programs, September 2013
- Marketing strategies
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- Figure 2: Key social media performance indicators, October 2013
- Consumers have passion for Chase and Amex
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- Figure 3: Online mentions, selected loyalty programs, April 21, 2013-Oct. 20, 2013
- The consumer
- Six in 10 are enrolled in a credit or debit card rewards program
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- Figure 4: Type of credit and debit card loyalty program enrolled in, overall, September 2013
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- Figure 5: Percent enrolled who accumulated rewards in past year, September 2013
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- Figure 6: Percent enrolled who redeemed rewards in past year, by gender, September 2013
- Two in three are enrolled in other types of rewards programs, most likely grocery and drug store
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- Figure 7: Other types of retail loyalty programs enrolled in, September 2013
- Cashback-only cards receive the highest satisfaction from users
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- Figure 8: Satisfaction with financial rewards programs enrolled in, September 2013
- The best part of a rewards card is finding the one with highest percentage of cashback
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- Figure 9: Most important features of a loyalty/rewards program, September 2013
- Because of rewards cards, consumers are shopping with different priorities in mind
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- Figure 10: Attitudes and behaviors regarding loyalty programs, by age and gender, September 2013
- What we think
Issues and Insights
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- Regaining trust
- The issues
- The implications
- Social media can be a blessing or a curse
- The issues
- The implications
- Some of those with rewards cards need help managing their rewards
- The issues
- The implications
- The issues
- The implications
- Deploy all marketing strategies that can continue to strengthen the relationship (ie, social and mobile)
- There has been some activity in the white space – that place where gains can be made by differentiation
Trend Application
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- Trend: FSTR HYPR
- What’s it about?
- What we've seen
- Market application
- Trend: Many Mes
- What's it about?
- What we've seen
- Market application
- Mintel Futures: Access Anything, Anywhere
- What it’s about
- What we’ve seen
- Market application
Market Size
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- Key points
- Very slight improvement in consumer credit outstandings
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- Figure 11: Revolving consumer credit outstanding, 2008-12
- Figure 12: Major types of revolving credit outstanding, by holder, 2010-12
Market Drivers
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- Key points
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- Figure 13: Unemployment and underemployment rates, January 2008 to September 2013
- Incomes down from prerecession levels
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- Figure 14: Median household income, 2007, 2011 and 2012
- The shape of household debt has changed
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- Figure 15: Total household consumer debt (excluding housing), Jan. 1, 2000 - Sept. 1, 2013
- Figure 16: Average credit card borrower debt, Q1 2008-Q2 2013
Competitive Context
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- Key points
- Outstandings in decline for three largest issuers
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- Figure 17: Credit card outstandings at top issuers, 2010-12
Leading Companies
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- Key points
- Chase leading bank, followed by BofA
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- Figure 18: Revenues and profits of leading commercial banks, 2010 and 2012
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- Figure 19: Credit card revenues at large banks, 2010-2012
- JPMorgan Chase
- Bank of America
- Discover Card
- Capital One
- Citi
- American Express
Innovations and Innovators
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- Key points
- American Express rewards points in NYC Taxis
- Discover Card cashback for holiday spending
- Capital One Rewards Card co-branded with GM
- Capital One Quicksilver Rewards Card
- Bank of America’s MyCruise Rewards Card
- Bank of America and Virgin Airlines Elite Card
- Chase Sapphire Rewards at Sundance Film Festival
- Chase launch of AARP Cashback Rewards Card
- Morgan Stanley Amex cards
Marketing Strategies
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- Key points
- Overview of the brand landscape
- Online initiatives
- Citibank
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- Figure 20: Citibank website homepage, November 2013
- Bank of America
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- Figure 21: Bank of America website homepage, November 2013
- Chase
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- Figure 22: JPMorgan chase website homepage, November 2013
- Wells Fargo
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- Figure 23: Wells Fargo website, November 2013
- Capital One
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- Figure 24: Capital One Venture card webpage, November 2013
- Discover Card
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- Figure 25: Discover card website, November 2013
- American Express
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- Figure 26: American Express website, November, 2013
- Credit card loyalty rewards programs
- Online banner ads
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- Figure 27: Citi Thank You Preferred card online ad, 2013
- Figure 28: Capital One Venture card online ad, 2013
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- Figure 29: Chase Visa Signature card online ad, 2013
- Figure 30: Chase Sapphire Preferred credit card, online ad, 2013
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- Figure 31: Fidelity Rewards American Express card, online ad, 2013
- Figure 32: Discover card, online ad, 2013
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- Figure 33: BankAmericard Travel Rewards credit card, online ad, 2013
- Figure 34: American Express Serve card online ad, 2013
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- Figure 35: American Express Platinum Edge credit card, online ad, 2013
- Direct mail and email ads
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- Figure 36: Wells Fargo Rewards credit card, email ad, 2013
- Figure 37: American Express Blue Sky credit card, email ad, 2013
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- Figure 38: Key Bank Rewards MasterCard, direct mail ad, 2013
- Figure 39: Capital One Quicksilver credit card, direct mail ad, 2013
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- Figure 40: Bank Americard Better Balance Rewards MasterCard, direct mail ad, 2013
- Debit Card Loyalty Rewards Programs
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- Figure 41: PNC Purchase Payback credit or debit card program, online ad, 2013
- Figure 42: Delta SkyMiles check card from Sun Trust Bank, direct mail ad, 2013
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- Figure 43: Disney Visa debit card from Chase, direct mail ad, 2013
- Television advertising
- Capital One
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- Figure 44: Capital One Quicksilver card TV commercial, 2013
- Citi
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- Figure 45: Citi ThankYou Preferred card – Lunch TV Commercial, 2013
- Figure 46: Citi ThankYou Preferred card – Katy Perry TV Commercial, 2013
Loyalty Programs and Social Media
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- Key points
- Key social media metrics
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- Figure 47: Key performance indicators, October 2013
- Market overview
- Brand usage and awareness
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- Figure 48: Brand usage and awareness of loyalty programs, September 2013
- Interaction with brands
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- Figure 49: Interaction with loyalty programs, September 2013
- Online conversations
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- Figure 50: Online mentions, selected loyalty programs, April 21, 2013-Oct. 20, 2013
- Where are people talking about loyalty programs?
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- Figure 51: Mentions, by page type, selected loyalty programs, April 21, 2013-Oct. 20, 2013
- What are people talking about online?
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- Figure 52: Selected American Express Twitter Mentions, October 29, 2013
- Figure 53: Mentions, by type of conversation, selected loyalty programs, April 21, 2013-Oct. 20, 2013
- Brand analysis
- Chase
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- Figure 54: Chase key social media indicators, October 2013
- Key online campaigns
- What we think
- American Express
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- Figure 55: American Express key social media indicators, October 2013
- Key online campaigns
- What we think
- Citibank
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- Figure 56: Citibank key social media indicators, October 2013
- Key online campaigns
- What we think
- Bank of America
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- Figure 57: Bank of America key social media indicators, October 2013
- Key online campaigns
- What we think
- Capital One
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- Figure 58: Capital One key social media indicators, October 2013
- Key online campaigns
- What we think
Consumer Usage of Card Rewards Programs
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- Key points
- Enrollment in credit card and debit card loyalty programs
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- Figure 59: Enrollment in credit and debit card loyalty programs, September 2013
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- Figure 60: Types of credit and debit card loyalty programs enrolled in, by gender, September 2013
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- Figure 61: Types of credit and debit card loyalty programs enrolled in, by age, September 2013
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- Figure 62: Types of credit and debit card loyalty programs enrolled, by age by gender, September 2013
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- Figure 63: Credit card and debit card loyalty programs enrolled in, by household income, September 2013
- Credit/debit rewards accumulation
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- Figure 64: Percent enrolled who accumulated rewards in past year, September 2013
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- Figure 65: Percent enrolled who accumulated rewards in past year, by gender, September 2013
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- Figure 66: Percent enrolled who accumulated rewards in past year, by age, September 2013
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- Figure 67: Percent enrolled who accumulated rewards in past year, by age by gender, September 2013
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- Figure 68: Percent enrolled who accumulated rewards in past year, by household income, September 2013
- Redemption of credit and debit card loyalty rewards
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- Figure 69: Percent enrolled who redeemed rewards in past year, by gender, September 2013
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- Figure 70: Percent enrolled who redeemed rewards in past year, by gender, September 2013
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- Figure 71: Percent enrolled who redeemed rewards in past year, by age, September 2013
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- Figure 72: Percent enrolled who redeemed rewards in past year, by age by gender, September 2013
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- Figure 73: Percent enrolled who redeemed rewards in past year, by household income, September 2013
Other Loyalty Rewards Programs
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- Key points
- Enrollment in other retail loyalty rewards programs
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- Figure 74: Other retail and bank/credit union loyalty programs enrolled in, September 2013
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- Figure 75: Other retail and bank/credit union loyalty programs enrolled in, by gender, September 2013
- Figure 76: Other retail and bank/credit union loyalty programs enrolled in, by age, September 2013
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- Figure 77: Other retail and bank/credit union loyalty programs enrolled in, by age by gender, September 2013
- Figure 78: Other retail and bank/credit union loyalty programs enrolled in, by household income, September 2013
- Rewards accumulated in the past year
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- Figure 79: Percent enrolled who accumulated rewards in past year, September 2013
- Other types of programs – accumulated rewards
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- Figure 80: Percent enrolled who accumulated rewards in past year, by gender, September 2013
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- Figure 81: Percent enrolled who accumulated rewards in past year, by age, September 2013
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- Figure 82: Percent enrolled who accumulated rewards in past year, by age by gender, September 2013
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- Figure 83: Percent enrolled who accumulated rewards in past year, by household income, September 2013
- Rewards redemption
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- Figure 84: Percent enrolled in loyalty programs who redeemed rewards in past year, by gender, September 2013
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- Figure 85: Percent enrolled who redeemed rewards in past year, by age, September 2013
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- Figure 86: Percent enrolled who redeemed rewards in past year, by age by gender, September 2013
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- Figure 87: Percent enrolled who redeemed rewards in past year, by household income, September 2013
Attitudes about Credit and Debit Card Loyalty Rewards Programs
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- Key points
- Satisfaction with credit/debit card programs
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- Figure 88: Satisfaction with financial rewards programs enrolled in, September 2013
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- Figure 89: Satisfaction with financial rewards programs enrolled in, by gender, September 2013
- Figure 90: Satisfaction with financial rewards programs enrolled in, by age, September 2013
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- Figure 91: Satisfaction with financial rewards programs enrolled in, by age by gender, September 2013
- Figure 92: Satisfaction with financial rewards programs enrolled in, by household income, September 2013
- Most important program features
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- Figure 93: Most important features of a loyalty/rewards program, by gender, September 2013
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- Figure 94: Most important features of a loyalty/rewards program, by age, September 2013
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- Figure 95: Most important features of a loyalty/rewards program, by age by gender, September 2013
- Figure 96: Most important features of a loyalty/rewards program, by household income, September 2013
- Usage behavior
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- Figure 97: Credit card loyalty program usage behavior, by gender, September 2013
- Figure 98: Credit card loyalty program usage behavior, by age, September 2013
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- Figure 99: Credit card loyalty program behavior, by age by gender, September 2013
- Figure 100: Credit card loyalty program usage behavior, by household income, September 2013
- Paying bills with cards to earn rewards
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- Figure 101: Attitudes toward loyalty programs, by gender, September 2013
- Figure 102: Attitudes toward loyalty programs, by age, September 2013
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- Figure 103: Attitudes toward loyalty programs, by age by gender, September 2013
- Figure 104: Attitudes toward loyalty programs, by household income, September 2013
- Attitudes toward loyalty programs in general
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- Figure 105: Attitudes toward credit card loyalty programs, by gender, September 2013
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- Figure 106: Attitudes toward credit card loyalty programs, by age, September 2013
- Figure 107: Attitudes toward credit card loyalty programs, by age by gender, September 2013
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- Figure 108: Attitudes toward credit card loyalty programs, by household income, September 2013
- Rewards programs – effect on shopping behavior
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- Figure 109: Attitudes and behaviors regarding loyalty programs and shopping, by gender, September 2013
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- Figure 110: Attitudes and behaviors regarding loyalty programs and shopping, by age, September 2013
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- Figure 111: Attitudes and behaviors regarding loyalty programs and shopping, by age and gender, September 2013
- Figure 112: Attitudes and behaviors regarding loyalty programs, by household income, September 2013
Impact of Race and Hispanic Origin
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- Key points
- Participation in loyalty rewards programs
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- Figure 113: Credit or debit loyalty programs enrolled in, by ethnicity, September 2013
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- Figure 114: Percentage of those enrolled who accumulated rewards in past year, by race/ethnicity, September 2013
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- Figure 115: Percentage of those enrolled who redeemed rewards in past year, by race/ethnicity, September 2013
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- Figure 116: Other retail and financial services loyalty programs enrolled in, by race/ethnicity, September 2013
- Figure 117: Percentage enrolled who accumulated rewards in past year, by ethnicity, September 2013
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- Figure 118: Percentage enrolled who redeemed rewards in past year, by race/ethnicity, September 2013
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- Figure 119: Satisfaction with financial rewards programs enrolled in, by ethnicity, September 2013
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- Figure 120: Most important features of a loyalty/rewards program, by race/ethnicity, September 2013
- Figure 121: Credit card loyalty program behavior, by race/ethnicity, September 2013
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- Figure 122: Attitudes toward loyalty programs, by race/ethnicity, September 2013
- Figure 123: Credit card loyalty program behavior, by race/ethnicity, September 2013
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- Figure 124: Attitudes and behaviors regarding loyalty programs, by race/ethnicity, September 2013
Appendix – Social Media
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- Brand usage or awareness
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- Figure 125: Brand usage or awareness, September 2013
- Figure 126: Citibank usage or awareness, by demographics, September 2013
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- Figure 127: Chase usage or awareness, by demographics, September 2013
- Figure 128: Bank of America usage or awareness, by demographics, September 2013
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- Figure 129: American Express usage or awareness, by demographics, September 2013
- Figure 130: Visa usage or awareness, by demographics, September 2013
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- Figure 131: Capital One usage or awareness, by demographics, September 2013
- Activities done
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- Figure 132: Activities done, by brand, September 2013
- Figure 133: Citibank – Activities done, by demographics, September 2013
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- Figure 134: Chase – Activities done, by demographics, September 2013
- Figure 135: Bank of America – Activities done, by demographics, September 2013
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- Figure 136: American Express – Activities done, by demographics, September 2013
- Figure 137: Visa – Activities done, by demographics, September 2013
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- Figure 138: Capital One - Activities Done, by demographics, September 2013
- Online conversations
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- Figure 139: Online mentions, selected loyalty programs, April 21, 2013-Oct. 20, 2013
- Figure 140: Mentions by page type, selected loyalty programs, April 21, 2013-Oct. 20, 2013
- Figure 141: Mentions by type of conversation, selected loyalty programs, April 21, 2013-Oct. 20, 2013
Appendix – Trade Associations
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