iSeatz Releases First "Credit Card Rewards Report," Expanding "State of Loyalty" Research Series
iSeatz has released their first report focusing on the point redemption product portfolios of 25+ credit card-issuing banks. The report is the latest in the "State of Loyalty" series of reports benchmarking major travel rewards programs in the hospitality and financial services industries.
NEW ORLEANS, Feb. 8, 2022 /PRNewswire-PRWeb/ -- iSeatz, the New Orleans based loyalty solutions provider, has announced the release of their latest research report, State of Loyalty: 2022 Credit Card Rewards Report. The report is a benchmark of the point redemption opportunities provided by major credit card reward programs and a valuable resource for loyalty executives to understand the competitive landscape.
This latest report is an expansion of iSeatz' "State of Loyalty" series, which examines the loyalty-integrated product portfolios and engagement strategies of leading travel reward programs. Previous reports in the series focused on the ancillary products of major hospitality brands. The "Credit Card Rewards Report" is the first to cover the financial services industry, and the company hopes to make it a recurring, annual report that will not only benchmark redemption opportunities from major banks, but note year-over-year changes in these reward programs.
iSeatz Marketing Director, Erin Groh, notes that while there are many resources that provide comparisons of credit card point earning opportunities, this report differs in its focus on point redemption and target audience. "There are several companies that regularly track and compare point earning offers from major credit cards. These are fantastic resources for consumers to help them evaluate which card best fits their lifestyle and spending patterns. Our report is intended to help card issuers see how their point redemption portfolio stacks up against their competitors and identify opportunities for further engagement with their cardholders."
The report details sixteen categories of reward products, including established travel extras such as car rental and flights, as well as lifestyle products like food delivery and carbon offsets. It also discusses emerging trends, including Buy Now, Pay Later and Cryptocurrency Rewards. While lifestyle products provided popular point earning opportunities during the pandemic, point redemption for these products has yet to see wide adoption amongst credit card loyalty programs, which iSeatz notes is an opportunity for program differentiation.
"We're seeing bookings well above 2019 levels in all the major domestic travel categories. Travel rewards are and will continue to be in demand, but there are shifts in customer behavior that shouldn't go unaddressed," said iSeatz Founder and CEO, Kenneth Purcell. "How can reward programs meet these changing needs? Domestic leisure travelers have been in the majority for the past 2 years. So while a business traveler may have used points on upgrades and lounge access in the past, a vacation rental and food or grocery delivery are what they're looking for now. Lifestyle products are a great supplement to a travel reward portfolio to enable brands to expand their customer base and provide more personalized offers."
About iSeatz
Founded in 1999 and based in New Orleans, iSeatz provides digital commerce and loyalty solutions that enable travel and lifestyle bookings. Our clients represent the best in travel, hospitality, and financial services, including American Express, Expedia, Air Canada, IHG Hotels & Resorts, and Wyndham Hotels & Resorts. The iSeatz platform processes more than $4B in transactions, 180B loyalty points, and 4M travelers annually. Focused on customization and backed by proven deliverability, reliable advanced analytics, and travel lifecycle expertise, iSeatz sets the bar for a superb travel journey from the very first search.
Media Contact
Erin Groh, iSeatz, 9493223413, [email protected]
SOURCE iSeatz
Share this article