Many would argue that American Express and other card companies are really travel and lifestyle clubs at heart. Why would consumers pay hundreds of dollars in annual fees to use an Amex Platinum card, or thousands of dollars to use an Amex Centurion?
Travel clubs help drive customer acquisition, new revenue streams, stronger loyalty and more brand equity.
This is truly a new era for global travel, and as demand for travel continues to rise, non-travel businesses and organizations can play a significant role in sales and marketing. By 2021, global online travel sales will reach $855 billion (according to eMarketer) – a significant revenue opportunity for any enterprise to claim.
In the last decade, the membership economy has witnessed a drastic boost. It is no longer limited to premium clubs and societies. Individuals belonging to different domains can take the benefit of membership-driven companies.
PYMNTS, the leading online source for payment news, mobile payment trends and commerce has featured Custom Travel Solutions Chief Commercial Officer, Charles Ralston in an article about how Chinese tourists are driving global payment and retail change.