New Report Shows How Loyalty Programs Can Drive Engagement Through Car Rentals
Oct 2, 2024
CarTrawler’s latest report reveals a $20 billion opportunity for loyalty programs to boost member engagement and generate new revenue by incorporating car rentals.
The Driving Loyalty: Market Insights on Car Rentals & Reward Programs report, based on a survey of over 3,500 U.S. consumers, highlights how loyalty programs can diversify rewards, capture more travel spending, and enhance member satisfaction by offering car rentals as earn-and-redeem or discounted options within their rewards framework.
Download the free report here
Key findings show that 45% of respondents are likely to rent a car through a loyalty program, with this rising to 56% among 25-39-year-olds. Yet only 12% of recent car renters (within the last 12 months) used their loyalty program for booking.
Car rentals also provide loyalty programs with a unique way to increase member engagement, especially for non-travel-related purposes. Driving Loyalty shows that these “everyday” rentals account for 24% of all car rentals in the U.S. and occur year-round, unlike the seasonal nature of air travel-related rentals, making this a consistent revenue stream for loyalty programs.
With the U.S. car rental market valued at $39.29 billion and projected to reach $44.7 billion in the next five years*, loyalty programs have a prime opportunity to significantly drive deeper member engagement, expand their market impact, and boost revenue by incorporating car rentals into their offerings.
Download the full Driving Loyalty report now to explore how loyalty programs can unlock the potential of car rentals.
Sources
*Euromonitor
