Consumer Behavior

Consumers love paying with points

Photo: Adobe Stock

January 4, 2024

Consumers are embracing the pay with points redemption opportunity with 84% stating they would use the loyalty currency option if offered.

That's a top finding from a survey from The Wise Marketer and Engage People that examined consumer views on using loyalty currency for redemption online and in store.

This year's figure reveals an increase over last year's 80% statistic, according to a press release on the survey that polled 1,000 U.S. consumers in the fall of 2023.

In addition, 76% of consumers expressed a willingness to change credit cards to access improved pay with points benefits.

The survey found the primary motivation for using pay with points is to save money and combat inflation by reducing purchase expenses. Roughly 37% of those polled reported having used pay with points one or more times, while 43% were either aware of pay with points but had yet to encounter it or were unfamiliar with it as a payment choice.