New research by customer engagement platform Como has found that it takes a loyalty programme member of a hospitality chain an average of 59 days to complete and redeem a punch card.
This suggests that, with an average of 10 punches per card, customers are visiting the business at least once a week.
The data, which includes insights from almost 400 stores in the hospitality sector across the UK, found that 6.45% of loyalty programme members qualify as ‘champion’ members, spending on average 153% more and visiting 30% more than other members in the last three months. They also account for 14.3% of overall members sales.
In June, Monday was the slowest day of the week for business, with sales down 41.7% compared to the daily average, while Saturday was the busiest day for sales, up 79.3% on average.
Over the last three months, average visits were up 112.4% during the weekend than other days of the week.
The data also showed customer habit, with 94% of loyalty programme members visiting just one branch.
“A lot of people are still under the impression that loyalty programmes don’t work, that they’re just another piece of plastic taking up space in your pocket, but our internal data proves that loyalty programmes do work, and consumers are rewarded on average every 9.4 days,” says Como founder Liran Mayost.
“Retaining customers in the digital age of fierce competition is even more important than winning new customers as they bring in more value and revenue and it requires a mix of exclusivity, personalisation and engagement.”