Half of U.S. reward program members are feeling increased frustration at the lack of choice in how they receive their rewards and more than a third are feeling challenges in earning rewards, face difficulty in redeeming rewards and don't view rewards as meaningful.
Yet the vast majority of consumers (90%) believe rewards programs have played a significant role in enhancing their overall customer experience.
Those are top findings from "From Points to Purchase," a Runa report on customer satisfaction regarding rewards programs.
"In today's economic climate, in which consumers seek ways to make their assets go further, the freedom to choose where and how they spend becomes even more crucial," Aron Alexander, CEO and founder of Runa, said in the release. "Stored digital value earned by reward program participants can help consumers bridge financial gaps, and the fact that much of this value is inaccessible is a clear shortcoming of reward programs today. Businesses must recognize the necessity of transforming the rewards they pay out into a more liquid, 'cash-like' form, in order to unlock their potential and adapt to the evolving preferences of consumers."