Barclays 2025 Travel Rewards and Loyalty Report reveals Millennials lead the pack in loyalty programs. Set-jetting, or choosing travel destinations based on favorite TV shows and movies, is also growing in popularity.
Travel Reward Programs Are Growing in Popularity
The third annual Barclays Travel Rewards and Loyalty Report, based on a Wakefield Research survey of 1,000 US travellers, reveals that travelers increasingly turn to loyalty and rewards programs to maximize their value. These programs are relied upon by nearly 79% more travelers than in previous years. The fact that 82% say they would not travel at all or differently if travel rewards were removed is a significant finding.
Trends in Set-Jetting: Generational Preferences
The report also highlights the trend of “set jetting.” More than two-thirds (65%) of travelers chose or plan to select a destination based on a favorite television show or film. 40% have already done this and 30% are planning to do it. The Millennials are the most likely to use rewards-based methods to stretch travel budgets. In comparison to other generations, they are more likely to use strategies to earn more points.
Gender and family status influence reward preferences
Men prefer exclusive rewards like upgrades, whereas women are more inclined to comfort and convenience rewards. Parents have the highest level of rewards knowledge, and are increasingly interested in cruises. One out of five parents are already members of a cruise loyalty program.
More Findings & Conclusion
Additional findings indicate that younger generations who are fueled by binge-watching and streaming services, choose their destinations based upon TV and movie locations. Loyalty programs are popular across all generations. Gen X and Millennials lead the pack with 85%. Both men and woman value earning rewards and saving money, resulting in similar engagement levels. Parents value rewards the most, and half of those surveyed said that consumers who plan credit card usage for rewards are missing out.
Barclays emphasizes the importance that loyalty programs are tailored to specific audiences so as to provide value to each customer’s unique journey. The bank will continue to work with partners to ensure that its rewards programs provide value and are relevant to cardmembers.
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