Brits are getting pickier, as loyalty programme membership plummets by 15 per cent in two years

Edith Hancock
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Credit card membership has fallen by 22 per cent (Source: Getty)

Brits are less loyal than ever as far as the finance and business sector is concerned.

Membership to company loyalty schemes has fallen 15 per cent in the last two years, according to new research.

Frequent flyer programmes are the hardest hit, with airline bonus schemes losing more than 35 per cent of their members since 2014, according to the study from Collinson Group.

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It's bad news for the financial world, too. Credit card memberships are have fallen 22 per cent, while Britain's banking firms have lost more than 10 per cent of their customers on loyalty programmes.

It seems the nation's well-heeled workers are the pickiest when it comes to choosing a bank. The study found customer expectation is highest in financial services, with almost two-thirds of affluent middle class customers expecting their bank to reward them for their loyalty.

Collinson Group claims too many brands are offering "generic points-based programmes, that offer no personalisation or attempt at tailoring the service to the customer preferences".

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Christopher Evans, a director at Collinson Group, said: "Loyalty membership is falling because generic programmes no longer excite people. There are simply so many programmes out there, doing the same thing, that people have become fatigued. Brands need to really think about what motivates their customers, and deliver a much more personal experience.

"Rewards should be more experience and lifestyle led to actually engage and motivate behaviour, rather than be uninspiring and commonplace like cash back and discounts."

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