Consumers Spend Loyalty Points and Cash Differently

• Research reveals consumers treat loyalty points differently from cash, with four distinct user categories.
• Money advocates prefer cash over points, even when values are identical.
• Currency impartialists see points and cash as interchangeable, valuing them equally.
• Point gamers seek the best redemption deals, valuing points more when advantageous.
• Point lovers value points over cash, even if their purchasing power is lower.

Source: HBR