Rising Gas Prices May Fuel Demand For Reward Programs
Pain at the pump is placing an additional financial burden on cash-strapped consumers, and a new study reveals that this may prompt a stronger demand for reward programs across the country.
According to a recent survey conducted by the National Association of Convenience Stores, many Americans reported they will be trying to ease their pain at the pump by relying on credit and debit card reward programs to knock a few cents off their final purchase. The renewed interest in debit and credit products that pay consumers back for purchases is expected to rise during the summer months as vacation traveling begins.
Gas prices in many areas of the country are nearing the $4 mark, a price that has largely been avoided since prices topped out at $4.11 in 2008. But as consumers prepare for another gas spike while continuing to overcome rising costs in other spending categories, NACS vice president of communications Jeff Lenard recently told the State-Journal Registrar that consumers are likely to use all methods at their disposal to keep their costs low.
"When it comes to gasoline prices, people really have a price sensitivity," said Lenard. "They fight for every penny."