According to Manuel Catedral, Collinson's vice president of business development in the Americas, the very nature of the ecosystem means that all travel service providers, such as airports, airlines, banks and payment methods, among others, must generate value and ensure that they meet the needs of the 'Traveller of Tomorrow' by focusing their efforts on technological innovations.
"Our strategic and business plan has been focused on understanding key trends in travel consumer behaviour, changes in attitudes towards tourism and business travel, the impact of technology and loyalty strategies. The goal is to meet the needs of the new traveller ecosystem; enabling them to travel with greater confidence, ease and convenience," said Catedral.
Collinson's recent study was conducted in Colombia, Brazil, Mexico and Peru with our 600 frequent travellers. One of the objectives was to understand how credit card consumers recognise, value and use travel-related benefits.
The sample included male and female Boomers (55-74 years old), Millennials (35-44 years old), Gen-X (45-54 years old), younger Millennials (25-34 years old) and Centennials or Gen-Z (18-24 years old).
The survey covered various topics such as rewards and benefits, credit card features, air travel behaviour and spending with people who travelled in the past six months, with the following results:
76% of respondents in Colombia would like to see travel-related rewards and benefits as a core element of credit cards.
80% of Colombians would be willing to exchange their credit card for a credit card that grants access to airport lounges at no additional cost.
For 54% of Colombians, VIP lounges are the main criteria for using a card and is the #1 travel-related benefit.
71% of Colombians are willing to pay for a new credit card that offers access to VIP lounge memberships.
65% are willing to pay to pre-book a VIP Lounge.
51% of Colombians have access to VIP lounges with their cards.
Women are more willing to use their credit card more often if they receive these benefits than men, with 86% and 80% respectively.
Priority Pass members are more likely to use their card more often than non-members at 91% and 78% respectively.
Willingness to pay
Car rental discounts are the service that Colombians are most willing to pay for with 73%, followed by membership/access to airport lounges with 71%.
Third place with 69% preference goes to duty free discounts, baggage delivery and city experiences.
Colombian women expressed their willingness to pay for car rental discounts (76%) more than men (71%).
Boomers 55-74 are more willing to pay for car rental discounts (79%) versus other generations (72%).
Having Fast Tack service at the airport is a benefit Colombians are willing to pay for at 63%, followed by retail discounts at 61% and airport sleeping pods at 57%.
Colombian women expressed their willingness to pay for airport lounge membership access (77%) more than men (66%).
Younger Millennials 25-34 and Boomers 55-74 are more willing to pay for lounge access membership (80%/79%), relative to other generations (64%).
The Affluent Elite segment is the most willing to pay for lounge access (89%), relative to people with other incomes (72%/67%).
