Rise in Stacking Fuel Rewards as Prices Remain High
Fuel prices have remained elevated since a U.S.-Iran conflict earlier this year, with diesel recently hitting records above $6 per gallon. As consumers continue to pay higher prices at the pump, convenience store and gas station rewards programs are becoming more valuable. A report from Verifone shows that an increasing number of drivers are stacking multiple loyalty or reward programs for greater savings. According to data analyzed by Verifone, 2.86 million fuel transactions this summer combined two or more rewards, with the practice peaking during the July 4 week. On average, customers who stacked discounts saved $2.52 per fill-up compared to those using a single program. However, these users also filled up larger volumes of gas. Overall, consumers saved an estimated $82.8 million through fuel rewards this summer. Verifone noted that many potential savings remain untapped since only about 30% of customers who had access to loyalty accounts actually redeemed them during a typical week in June.
Topics: consumer behavior fuel prices loyalty programs rewards stacking