The Point of Loyalty recently commissioned research by First Point Research and Consulting to understand how loyalty programs work in New Zealand. The survey was conducted among a panel of 1,000 consumers aged 18 and over in the first quarter of 2021. The study was structured to gather both quantitative and qualitative insights. It found that most consumers value reward points, particularly when they can earn free gift vouchers and spend them on other products. Hence, the findings of this study will provide valuable insight into the development of loyalty schemes in the country.
The number one loyalty programme in New Zealand is AA Smartfuel, ahead of Countdown Oncecard, Fly Buys and Airpoints. The study, conducted in the first quarter of 2021, surveyed 1000 New Zealanders to find out their attitudes towards loyalty programmes. It uncovered that a vast majority of respondents deemed loyalty schemes to be important and were willing to participate. This is in line with the prevailing thinking in the market.
The influx of new players in the industry has made loyalty programmes more relevant and effective than ever. As a result, more brands are experimenting with these schemes. For example, AIA Vitality, which rewards its customers for maintaining a healthy lifestyle, is a standout success in New Zealand. Genesis Energy, which provides electricity and gas, has opted for a new loyalty program by offering its own product to customers. The strategy has slashed churn by as much as 21%, a figure that has shocked some critics. The United Kingdom’s Octopus has also entered the market. However, unlike most of the other countries in the country, this brand is not launching a loyalty scheme.
Despite being a hot topic in New Zealand boardrooms, loyalty schemes are not dead. The biggest loyalty schemes in New Zealand have undergone sweeping changes in the past six months. While many soothsayers have predicted that loyalty programmes will be extinct, some of these changes have improved the customer experience and kept customers engaged. The following companies have rolled out loyalty programs that are aimed at ensuring they remain relevant in the market.
The AIA Vitality loyalty programme is the most popular loyalty scheme in New Zealand. It rewards customers for staying fit. It has been a standout success in all countries and categories. Another example of a successful strategy is using your own product as a form of currency. The strategy has lowered churn by 2 per cent. In addition, new entrants like Octopus, which offers the best customer experience, will be the only loyalty program in NZ.
Other loyalty programs offer different rewards for different categories. BNZ’s Advantage credit card holders can earn two lots of points when they make purchases using their credit card. By using their card, they can even earn points on their outstanding balances, insurance premiums, and foreign currency. BNZ’s Avantage scheme has many benefits for its members. Its membership in the program is free, and there are no fees. Its customer-centric strategy is aimed at rewarding customers for spending their time and money with its products.
It’s no secret that loyalty programmes are an important part of the business model in New Zealand. The AIA Vitality program rewards its members for staying healthy. This programme has become the best loyalty scheme in the country and has been a standout in most categories. A new entrant to the market from the UK, Octopus, and Fly Buys have changed the rewards system. The benefits of these new programs are clear: they reward customers for shopping and for buying.
The AIA Vitality program rewards customers for staying healthy and has been a standout success in every category and country. In New Zealand, Genesis Energy uses its own product as loyalty currency, reducing churn by 2%. In addition, Octopus, an entrant from the UK, will not offer a loyalty programme, but will aim to provide the best possible customer experience. This will be a welcome change from the traditional loyalty schemes in New Zealand.
Despite the high costs of loyalty programmes, New Zealanders are still keen to be part of them. Among the most popular loyalty schemes in the country are the Glassons and Hallensteins, which have some of the lowest prices in the world. They also reward customers with various discounts. The first discount is worth $20, but it varies depending on the amount of spending. The rewards can be accessed through a mobile phone application, which is available on smartphones.