With terms like revenge travel and G.O.A.T (greatest of all trips) being thrown around, consumers are ready to travel again, planning longer vacations to bucket list destinations.
At the same time, inflation levels in the US increased at the largest 12 month advance in March. Fuel prices have been especially hard hit. But with COVID-19 still high in the public’s memory, consumers are looking for to get away.
These conditions are opening the door for small to medium sized banks and credit unions to reward their members with cash back offers with national and local merchants, and as recently announced, hotel stays.
In Cardlinx webinar, “Building a Differentiated Experience for FI Members with Travel Cash Back Offers” Ed Wogan, Chief Merchant Officer at Valuedynamx, and Ted Mooney, CEO and Founder of travel.win, discussed the changing travel landscape post-COVID and how adding new opportunities like travel-related cash back offers will help to keep FI cards top of wallet while also incentivizing customers to plan earlier, spend more and stay longer on their vacations.
With travel coming back in a big way, there’s no better time than the present to use these learnings to enhance your programs.