Credit card companies are emerging as the new major players in the competition for customer loyalty within the travel sector, according to the findings from Skift Research’s Global Travel Insights survey. This trend highlights a shift in traveller preference, which has significant implications for traditional travel providers such as hotels, airlines, and online travel agencies, who now face intensified competition.
Credit Cards Overtake in Loyalty Stakes
The survey revealed that 32% of travellers believe that credit card and bank loyalty programs offer the most rewarding benefits. This surpasses the 26% of respondents who favour hotel loyalty programs, and the 20% who prefer those of airlines. Online travel agencies, meanwhile, garnered approval from a mere 8% of travellers, demonstrating a stark contrast in perceived value.
Such insights underline a shift in how travellers value loyalty programs, with credit card incentives taking a leading role. As a result, travel companies must reconsider their strategies to better compete in this evolved loyalty landscape.
Reporting based on coverage first published by skift.com.