Value of Loyalty

Value of Loyalty

Loyalty is central to everything Tesco does - from food to fuel and phones to finance. Both in building it through excellent service and Everyday Low Prices, and rewarding it through Clubcard points and Clubcard discounts.

 

It’s therefore very important to our business to understand how the increasing cost of living is affecting people’s loyalties. To achieve this, Tesco Bank has commissioned extensive new nationwide research through Opinium. The revealing, and often surprising, findings have now been analysed and compiled into a short, accessible report called ‘The value of loyalty’ which you can download here

 

 

In the report


you’ll find full details on issues and stories that shine a light on the impact of the
cost of living crisis including these sections below

 

How consumers are turning to loyalty rewards to help ease the cost of living crunch

49% of people say they are increasingly using their reward points as a direct result of the crisis

The drivers and breakers of customer loyalty to brands and retailers

79% of people now believe loyalty can’t be taken for granted, but instead needs to be rewarded

When it comes to people being loyal, what ‘blind spots’ get in the way?

loyalty is impacted by factors including nostalgia (29%), age (22%) and more

Why rewards are a driver of loyalty when purchasing financial products

1 in 6 said rewards increased their feelings of loyalty towards financial services providers