According to new research released by Collinson Group, the same group of consumers is less likely to recommend a brand to friends and less likely to refrain from switching to a competitor as a result of a current loyalty program. In fact, membership programs are lower across eight categories including grocery and retail, than in 2014.

"Given the importance of affluent middle-class consumers on the fortunes of companies, it is imperative that low-performing initiatives are aborted, and that brands rethink how they recognize, engage and reward customers," said Christopher Evans, director, Collinson Group.

The study polled more than 6,000 shoppers who earn in the top 10 to 15 percent in the United States, the U.K., Australia, Brazil, China, France, Hong Kong, India, the United Arab Emirates and Singapore. The group revealed that 69 percent expect high quality and consistent customer service, and 67 percent value the flexibility to choose the rewards and benefits they are offered.

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