In the midst of a contraction in consumption in Colombia, Puntos Colombia, the largest loyalty program in the country, has managed to maintain moderate growthdriven by the change in the consumption dynamics of Colombians.
For example, as Puntos Colombia records, Loyalty programs like this platform saved $350 billion in 2023. At the same time, 84% of citizens are more willing to purchase a product or service from companies that have a loyalty program that allows them to redeem and accumulate Points in each transaction.
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Although the general turnover of Puntos Colombia has increased by 9% in the first half of 2024, points redemption has grown by 13%indicating that consumers are more actively looking to save money through the program.
Likewise, Puntos Colombia revealed that 53% of its users consider it relevant to redeem points in a loyalty program. And the preference categories for redeeming points, according to a study by this company are: market (23%), mobility/transport (18%), fashion and accessories (8%), gastronomy (8%), and well-being (7%).
That is why the consumer categories that are growing the most in points redemption are cfuel, food and basic necessitieswhile the categories of technology, fashion and entertainment They are experiencing a contraction.
In addition, Puntos Colombia has 7.3 million users and 3,000 commercial allies, offering a wide range of opportunities to accumulate and redeem points. The program also offers additional benefits such as discounts, promotions and exclusive experiences.
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Regarding projections for the future, Ptogether Colombia expects to continue growing in the second half of the year, driven by the fall in interest rates, the normalization of inflation and the recovery of consumption. And it will focus on increasing user education on how to get the most out of the program. Given this panorama, EL COLOMBIANO spoke with Santiago Restrepo, director of Data and Strategy at Puntos Colombia.
How has Puntos Colombia’s behavior been in the midst of the contraction in consumption?
“Although we are seeing lower growth than in 2022 and 2023, the program continues to grow. Points redemption has increased 13%, reflecting that consumers are more actively looking to save money.”
What changes have you observed in consumption dynamics?
“Consumers are prioritizing the purchase of essential products and are looking for more opportunities to save. The categories of fuel, food and basic necessities are the ones that are growing the most in point redemption.”
How is Puntos Colombia adapting to this new scenario?
“We are offering more opportunities to accumulate and redeem points in essential consumer categories. “We are also working with our commercial allies to offer exclusive discounts and promotions to Puntos Colombia users.”
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What projections do you have for the future?
“We expect moderate growth in the second half of the year, driven by the fall in interest rates, the normalization of inflation and the recovery of consumption. “We will also focus on increasing user education on how to get the most out of the program.”
What does Puntos Colombia expect for its users?
“Puntos Colombia is a valuable tool to save money on your daily purchases. Take advantage of the opportunities the program offers to accumulate and redeem points, and enjoy the additional benefits it offers. Additionally, Puntos Colombia is in the middle of its Punto Manía campaign, where users can find discounts of up to 50% on a wide range of products in Éxito stores. This is an excellent opportunity to make the most of your accumulated points and save money on your purchases.”
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How do you approach consumer education?
“One of the main challenges of loyalty programs is educating consumers on how to get the most out of them. Puntos Colombia is working on different initiatives to achieve this goal, such as creating educational content and holding informative events.”
