From Crowdsourced Reward Apps to Smart Discount Cards
Laura McQuarrie — August 7, 2015 — Business
Now that Generation Y holds an immense amount of buying power across multiple industries, brands are competing to win over their business and keep them coming back with inventive Millennial loyalty programs.
Many rewards programs are still centered around having members collect points and put them towards a purchase. However, since the Millennial generation tends to value experience more than things, brands are appeasing them by offering trips, VIP events and other exclusive activities for their most loyal supporters.
As much as there is something gratifying about getting a reward, Generation Y also craves entertainment from the way rewards are redeemed. Some programs use gamification, Wi-Fi networks and social media platforms in order to have consumers prove their loyalty, rather than passively logging into an app.
Many rewards programs are still centered around having members collect points and put them towards a purchase. However, since the Millennial generation tends to value experience more than things, brands are appeasing them by offering trips, VIP events and other exclusive activities for their most loyal supporters.
As much as there is something gratifying about getting a reward, Generation Y also craves entertainment from the way rewards are redeemed. Some programs use gamification, Wi-Fi networks and social media platforms in order to have consumers prove their loyalty, rather than passively logging into an app.
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