The importance of financial services to the travel industry cannot be overstated. Commercial and co-brand credit cards have helped both the travel suppliers (airlines, hotels), card companies (Visa, Amex), and issuing banks segment their common customers and understand consumer spending habits.
There’s no doubt that the sharing economy has changed the marketplace of accommodations, including where people stay, how they find new properties, what they expect from a property owner or management group and their expectations for a vacation rental website or app.
Brand relationships follow a simple law: the more you give, the more you get. That’s why consumers love loyalty programs – they get brand value beyond the price of the transaction, every time they spend. But many brands have been “giving” loyalty rewards and not seeing a return on investment. So what gives?
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 is one of the most valuable and unforgettable experiences in the world. After all, how many of you remember the time spent while working in an office cubicle.
Both healthcare and travel are considered as some of the most vital service-based sectors of the present time. Needless to say, their integration can yield fruitful results for any travel club. These days, travelers like to take added measures related to healthcare services.
Travel clubs have certainly come a long way in the last few years. Since they provide exclusive services to their customers, it helps them plan an affordable vacation in less time. Even though millennials and corporate travelers are considered vital audiences for travel clubs, one should not overlook families and senior citizens as well.
Recently, millennials have overtaken baby boomers as the biggest demographics in the United States (source). Unlike other generations, millennials have a different set of priorities. For instance, they travel more often and would like to attain a perfect work-life balance instead of being overly career driven.
Corporate travel is no longer solely associated with business or work. To let employees have a hassle-free experience while traveling, plenty of multinationals are coming up with revolutionary corporate travel ideas.
Some of the most successful and fastest growing organizations worldwide are driven by its members. In today’s fast-paced world, everyone likes to access exclusive benefits in seconds, which has caused a rapid growth in the membership driven economy.