Classic Collection unveils insights into agent spending habits through rewards.
- High street brands like Marks & Spencer and Boots top the list of agent favoured shops.
- Reloadable Black Cards provide flexibility in how agents utilise their earnings.
- Significant spending surges occur during the festive season and early summer months.
- Agents predominantly aged 41-60, with spending reaching up to £200 per card.
The recent report by Classic Collection has disclosed the preferred brands where travel agents allocate their rewards cash, shedding light on spending patterns within the industry. High street giants such as Marks & Spencer, Boots, and John Lewis have come out on top as travel agents’ favourite retailers. Other popular choices include Argos, Sainsbury’s, New Look, and River Island, reflecting a broad spectrum of shopping preferences across the board.
The use of reloadable Black Cards, which function similarly to debit cards, gives agents significant flexibility in their purchases. This system allows them to use their earned rewards for various expenditures, ranging from everyday purchases to significant bills. As agents continue to make bookings, their Black Card balances are automatically topped up, enabling perpetual use for future spending.
Furthermore, the analysis indicates that more than half of these agents are aged between 41 and 60, with a noticeable minority of 8% being between 21 and 30 years old, and a mere 2% aged 71 to 80. This demographic detail offers insight into the prevalent age group actively engaged in the travel agency sector. The average transaction per cardholder is reported at £200, and remarkably, 76% of the total funds loaded are spent within the first quarter of issuance.
The study also highlights particularly active periods for spending, notably from October to December and in May. These times coincide with the lead-up to Christmas and the start of the summer season, suggesting that holiday-related expenses drive a significant portion of the spending. A noteworthy initiative, the ‘Summer of Love’ campaign, has seen recent monetary enhancements to Black Cards, collectively summing up to £5,000 shared among ten agents.
Manisha Blair, trade marketing and engagement manager at Classic Collection, has indicated that the unique selling point of the Black Card is its spending flexibility, positioning it as a leading incentive in the sector. Blair remarks, ‘We’re convinced that the spending flexibility that this scheme offers to our trade partners makes this the best agent incentive out there.’ She emphasises that while the data points to spending at high street brands, the cards are versatile enough to cover various costs, including fuel.
Classic Collection’s overview of agent spending provides valuable insights into retail preferences and transactional behaviour within the travel industry.
