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- Fully booked flights, limited bag space, and a kid kicking the window seat you paid an extra $100 for.
滿載的航班、有限的行李空間，還有一個孩子踢著你多花 100 美元買的靠窗座位。
- I am an extreme occasion FOC, fear of coach.
我是極端的經濟艙恐懼症患者。
- But that's the reality for the majority of people flying today.
但這就是今天大多數人飛行的現實。
A stark shift from the days where air travel included complimentary cocktails and an in-flight piano performance.
與過去空中旅行包括免費雞尾酒和機上鋼琴表演的日子形成鮮明對比。
So, what happened? To understand, we have to go back to a decision made decades ago, when deregulation allowed airlines to set their own flights and routes.
那發生了什麼？要理解，我們必須回到幾十年前做出的一個決定，當時解除管制允許航空公司設定自己的航班和航線。
What was meant to make the industry more competitive, ultimately set off a race to increase profits and cement an airline's market share, leading to the world's first airline loyalty program.
本意是讓行業更具競爭力的做法，最終引發了一場增加利潤和鞏固航空公司市場份額的競賽，導致了世界上第一個航空公司忠誠度計劃。
- It's hard to see how airlines could survive today without loyalty programs.
很難想像航空公司今天沒有忠誠度計劃如何生存。
- If we just started from scratch without it, I don't know.
如果我們從頭開始沒有它，我不知道會怎樣。
- Today, airlines make on average only about $13 in profit per passenger.
今天，航空公司每位乘客平均只賺大約 13 美元的利潤。
But 2020 revealed that the loyalty program can hold a higher value than the airline itself.
但 2020 年揭示了忠誠度計劃可能比航空公司本身更有價值。
Here's the case study on how American Airlines created its own form of currency, changing the way the world flies and creating an entirely new business that has nothing to do with aviation.
這是一個案例研究，講述美國航空如何創造了自己的貨幣形式，改變了世界飛行的方式，並創造了一個與航空完全無關的全新業務。
- This was back in an environment where airlines weren't full.
這是在一個航班沒有滿員的環境下。
- In the late 1970s, American Airlines was losing some of its grip on the market.
在 1970 年代末，美國航空正在失去對市場的一些控制力。
- De-regulation had meant that there were lots of new airlines.
解除管制意味著有很多新的航空公司。
- Suddenly, it's a little bit of a free-for-all.
突然間，這有點像是一個自由競爭的市場。
- Everybody was trying to figure out how can we motivate people to fly more.
每個人都在想辦法如何激勵人們多飛行。
- New, smaller carriers began winning market share by offering lower prices, and the competition forced the traditional carriers to rethink their business model.
新的、較小的航空公司通過提供較低的價格開始贏得市場份額，競爭迫使傳統航空公司重新思考其商業模式。
They wanted to keep flying the same routes, while maintaining prices, but not lose customers to competitors.
他們想繼續飛同樣的航線，維持價格，但不想失去客戶給競爭對手。
- So, our advertising agency said to us, why don't you guys see if you can come up with some kind of a prize?
所以，我們的廣告公司對我們說，你們為什麼不看看能否想出某種獎品？
- The company brought together a small team to brainstorm.
公司召集了一個小團隊進行頭腦風暴。
- Bob Crandall, he was the chief executive of American Airlines at the time, and they brought in an outside consultant named Hal Brierley.
Bob Crandall，他當時是美國航空的首席執行官，他們還請來了一位名叫 Hal Brierley 的外部顧問。
- I definitely give Bob Crandall credit as the visionary who knew that incentives could drive behavior.
我絕對認為 Bob Crandall 是那個知道激勵可以驅動行為的有遠見者。
- The team was inspired by price stamps, which could be collected at various stores and then exchanged for rewards like a watch or a new camera.
團隊受到價格郵票的啟發，這些郵票可以在各種商店收集，然後兌換手錶或新相機等獎品。
And American transitioned that idea to give customers miles, the first iteration of advantage.
美國航空將這個想法轉變為給客戶里程，這是 AAdvantage 的第一次迭代。
- I think it did sound like a sort of simple idea at the time that if you give people some kind of prize, they might buy tickets.
我認為當時這聽起來像是一個簡單的想法，如果你給人們某種獎品，他們可能會買票。
- In the early days, that simply meant a free flight.
在早期，這只是意味著一次免費航班。
American Airlines was betting that the business the program attracted would be greater than the cost to redeem the reward.
美國航空打賭該計劃吸引的業務會大於兌換獎勵的成本。
But to nail that, American needed to set the right benchmark.
但要做到這一點，美國航空需要設定正確的基準。
The company knew that its average consumer flew about 40,000 miles a year.
公司知道其平均消費者每年飛行約 40,000 英里。
- Setting 50 meant, concentrate your travel, fly on us more.
設定 50,000 意味著，集中你的旅行，多乘坐我們的航班。
- The team also implemented a specific one-year time limit for the program and developed a way to track their customers.
團隊還實施了一個特定的一年時限並開發了一種追蹤客戶的方法。
- They knew this was Tom Jones, who flew from Miami to New York.
他們知道這是 Tom Jones，他從邁阿密飛到紐約。
They didn't know if this was the same Tom Jones who flew to Paris last month.
他們不知道這是不是上個月飛往巴黎的同一個 Tom Jones。
- Computerized reservation systems were still new and innovative and just getting off the ground.
電腦化預訂系統當時還是新的、創新的，剛剛起步。
- To solve this, American linked its reward and reservation system and assigned customers a specific number, inspired by rental car company Avis.
為了解決這個問題，美國航空將其獎勵和預訂系統連接起來，並給客戶分配一個特定的號碼，靈感來自租車公司 Avis。
- The goal was to know which customers were the most profitable.
目標是知道哪些客戶最有利可圖。
Obviously, if I knew what you flew last year, I can design incentives that will reward you for incremental spend.
顯然，如果我知道你去年飛了多少，我可以設計激勵措施來獎勵你的增量消費。
- After more than a year of planning, American Airlines lodged advantage on May 1st, 1981.
經過一年多的規劃，美國航空於 1981 年 5 月 1 日推出了 AAdvantage。
(bright music) - It seemed like the reaction was almost immediate.
反應似乎幾乎是立即的。
- United matched within a week, and shortly after, TWA, Continental, Northwest Orient, Breneth, and Texas International all followed.
聯合航空在一週內跟進，不久之後，TWA、大陸航空、西北東方航空、Breneth 和德州國際航空都跟進了。
- And literally, by September, every airline but one had a program.
而且到了九月，除了一家之外，每家航空公司都有了一個計劃。
- But the secret weapon American had over its competitors at the time was just that, time.
但美國航空當時對競爭對手的秘密武器就是時間。
- They had a one-year lead. - So, the other airlines had not done the planning necessary to keep track of the miles.
他們有一年的領先優勢。所以，其他航空公司沒有做好追蹤里程所需的規劃。
While they were figuring that, we were signing up their customers.
當他們在想辦法的時候，我們正在簽下他們的客戶。
- American thought that we might have 500,000 people.
美國航空以為我們可能會有 50 萬人。
We signed up in the first year, a million people.
我們第一年就簽下了一百萬人。
- But the influx of competitors through a wrench in American's lead.
但競爭對手的湧入給美國航空的領先地位帶來了挑戰。
When United launched its program without a one-year time limit on the miles.
當聯合航空推出其計劃時，里程沒有一年的時間限制。
- I think a lot of the airlines thought it was a one-year promotion.
我認為很多航空公司以為這是一年的促銷。
And it might have been a one-year promotion had United not made it open-ended.
如果聯合航空沒有把它變成開放式的，它可能就是一年的促銷。
- American quickly removed its limit as well.
美國航空也很快取消了限制。
- And of course, the consequence of that is that every frequent fire wants to belong to every frequent fire program.
當然，結果是每個常旅客都想加入每個常旅客計劃。
And they do. - And that's totally destroyed the initial economics.
他們確實這樣做了。這完全破壞了最初的經濟學。
(light music) - Without the time limit, the airlines found themselves once again one-upping each other.
沒有了時間限制，航空公司發現自己又在相互競爭。一次又一次。
Over and over and over again. - I said we need a gold program.
我說我們需要一個金卡計劃。我們需要一些東西來認可前 2%。
We need something that recognizes the top two percent.
這創建了一個確定激勵級別的系統。
- This created a system to determine levels of incentive.
里程越多，激勵越多。比如免費的頭等艙升級。
The more miles, the more incentives. Like a complimentary first-class upgrade.
這些升級也是讓乘客習慣更昂貴的住宿條件的一種方式。
These upgrades were also a way to accustom flyers to the more expensive accommodations.
這樣最終他們會自己購買那個選項。
So that eventually, they would buy that option on their own.
現在 AAdvantage 對他們來說利潤豐厚，因為獎品的價值與業務量成正比。
- Now the advantage from them is hugely profitable because the value of the prize is proportional to the amount of business.
里程成為一種貨幣，因為常旅客計劃開始吸引航空業以外的關注和資本，特別是來自銀行。
- Miles became a sort of currency as frequent flyer programs began attracting attention and capital from outside the aviation industry, specifically from banks.
航空公司開始將里程出售給這些銀行以換取現金。
The airlines began selling miles to these banks in exchange for cash.
銀行然後會將這些里程作為獎勵提供給他們的持卡人。
The bank would then offer these miles to their card holders as a reward.
但這一運動表明乘客不是航空公司唯一的客戶。
But this movement that passengers aren't an airline's only customer.
我的意思是，對航空公司來說，這太棒了，因為它意味著他們從你購買的各種與旅行或旅行需求完全無關的商品和服務中獲得收入。
- I mean, for the airline, that's great because it means they get revenue from all sorts of goods and services that you buy that are totally independent from travel or travel demands.
所以，AAdvantage 計劃本身已經成為一項業務，而且利潤非常可觀。
- So, the advantage problem has become the business in its own right at a very profitable point.
但通過獎勵消費里程，這些計劃不再只是關於常旅客。
- But by awarding miles for spending, these programs were no longer just about frequent flyers.
相反，它是關於花了多少錢。你在機票上花了多少錢比你飛了多遠更重要。
Instead, it's about money spent. - How much did you spend on your ticket becomes more important than how far you're flying.
所以，你不一定需要是一個每週四天出差的商務旅客才有機會獲得這個。
So, you don't necessarily need to be a road warrior whose boss sends you out on business travel four days a week to have a shot at this.
你可以通過信用卡消費達到那裡。
You can get there by spending under credit card.
引發了辯論。航空公司是否變得更像是碰巧飛行的銀行？
- Prompting the debate. Have airlines become more like banks that just happen to fly?
我認為航空公司不同意這一點，飛行才是重點。
- I think the airlines disagree with that, and the flying is sort of the point.
沒有航空公司就沒有計劃。
- There is no program without the airline.
但就這些計劃在他們財務中扮演的角色而言，我的意思是它們已經變得非常重要，而且很難忽視。
- But in terms of the role that the programs play in their finances, I mean they have become really prominent, and it's hard to ignore.
我的意思是，今天，在某些季度或一年中的某些時候，實際的航空運營並不賺錢。
I mean, today, often in some quarters or some parts of the year, the actual airline operation doesn't make money.
你知道，載客飛行的成本比他們付給航空公司的還多。
You know, costs more to fly passengers around than they pay the airline.
能填補空白的是忠誠度計劃和聯名信用卡，每次客戶刷卡都會給航空公司帶來一點收入。
What can fill in the gaps is the loyalty program and the co-branded credit card that gives airlines a little bit of revenue every time a customer swipes that credit card.
2023 年，美國航空從信用卡和其他合作夥伴關係中獲得了 52 億美元。
- In 2023, American Airlines brought in $5.2 billion from its credit card and other partnerships.
達美航空則為 66 億美元。但忠誠度計劃中承諾的優惠隨著受眾增長而變得更具競爭力。
And Delta, $6.6 billion. But the offerings promised in a loyalty program have become more competitive as the audience grows.
現在，客戶正在為這些服務付費。到 2022 年，像座位升級和行李費這樣的輔助收入約占航空公司總收入的 15%。
Now, customers are paying for these accommodations. By 2022, and silary revenues like that made from seat upgrades and baggage fees accounted for about 15% of total airline revenue.
當我開始工作時，當你買票時，一切都包括在內。無論你是否消費。
- When I started, when you bought a ticket, everything came with it.
隨著時間的推移，我們能夠做的實際上是創造更多產品，讓客戶為他們要消費的東西付費。
Whether you consumed it or not. What we've been able to do over time is actually create more products that enable customers to pay for what they're going to consume.
航空公司不斷重新校準其計劃以保持其經濟優勢。
- And airlines are constantly recalibrating their programs to keep their economic edge.
無論是改變某個身份的基準還是增加一次航班所需的里程數，航空公司對一英里值多少錢
Whether it's changing the benchmarks for a certain status or increasing the number of miles it costs for a flight, - Airlines have full control over how much a mile is worth
以及一次航班收費多少有完全的控制權。
and how much to charge for a flight.
所以，當你參與這個計劃時，你有點受他們的擺佈。
So, you are kind of at their mercy when you're participating in this program.
一些消費者稱這些變化為貶值，引發了審查。
- Some consumers have called these changes devaluations, drawing scrutiny.
2024 年，交通部對四大航空公司的忠誠度計劃展開調查，稱這些獎勵計劃可能不公平、具有欺騙性或反競爭。
In 2024, the Department of Transportation launched a probe into the four largest airline loyalty programs, describing the rewards programs as potentially unfair, deceptive, or anti-competitive.
很多人似乎真的相信航空公司想讓使用里程盡可能困難。
- A lot of people really seem to believe that airlines want to make it as hard as possible to use the miles.
我採訪過的每位航空公司高管都說這不是真的。
And every airline executive ever talked to has said that's not true.
我希望人們使用他們的里程。我希望他們在使用里程時能找到價值。
- I want people using their miles. I want them to find value when they use their miles.
但我確實認為當航空里程貶值時會有挫敗感。
- But I do think there's a frustration when airline miles get devalued.
然後突然間你買不了你以為能買的航班，因為他們的里程一文不值。
And then suddenly you can't buy the flight that you thought you'd be able to buy because their miles are worthless.
作為回應，一個航空業貿易團體表示，忠誠度計劃是航空公司競爭客戶的一種方式。
- In response, an airline trade group said that loyalty programs are a way for airlines to compete for customers.
但這些計劃對消費者決策的影響也可能正在減弱。
But the program's impact on consumer decisions may also be dwindling.
麥肯錫的研究顯示，這些計劃改變旅客行為的能力在 2017 年至 2021 年間下降，在 2021 年至 2023 年間再次下降。
Research by McKinsey showed that these programs' ability to change flyer's behavior declined between 2017 and 2021, and again between 2021 and 2023.
所以，為了讓忠誠度計劃保持吸引力，像美國航空這樣的航空公司正在尋求擴大人們可以消費和賺取里程的範圍。
So, in order for loyalty programs to keep their alert, airlines like American are looking to expand the scope of where people can spend and earn miles.
你可以用現金買的東西，我們想用里程提供，我們還想改變你可以用里程獲得的體驗。
- Things that you can buy with cash we want to make available with miles, and we also want to change even the experiences that you can use your miles for.
但像任何變化一樣，都有過度糾正的風險。
- But like with any change, comes the risk of overcorrection.
我們看到其他航空公司做出重大改變，然後不得不撤回其中一些，這是一個持續的迭代過程。
- We've seen cases at other airlines where they've made big changes and had to sort of walk some of them back, and it's kind of a constant iteration.
這意味著雖然你可能幾乎在任何地方都能賺取里程，但它們能給你帶來多少仍然有待討論。
- Which means that while you might be able to earn miles almost everywhere, how much they can get you is still up for debate.
感謝觀看。如果你想了解更多關於忠誠度計劃如何轉變的信息，請觀看我們對美國航空收益管理和忠誠度副總裁 Scott Chandler 的擴展採訪
Thanks for watching. If you want to learn more about how loyalty programs have transformed, watch our extended interviews with American Airlines VP of Revenue management and loyalty Scott Chandler
以及前 CEO 兼董事長 Bob Crandall。點擊這裡的連結在 wsj.com 上觀看。
and former CEO and chairman Bob Crandall. Click the link here to watch on wsj.com.
以及前執行長兼董事長 Bob Crandall。點擊這裡的連結到 wsj.com 觀看。
點擊句子跳轉到對應位置
- Fully booked flights, limited bag space, and a kid kicking the window seat you paid an extra $100 for.
滿載的航班、有限的行李空間，還有一個孩子踢著你多花 100 美元買的靠窗座位。
- I am an extreme occasion FOC, fear of coach.
我是極端的經濟艙恐懼症患者。
- But that's the reality for the majority of people flying today.
但這就是今天大多數人飛行的現實。
A stark shift from the days where air travel included complimentary cocktails and an in-flight piano performance.
與過去空中旅行包括免費雞尾酒和機上鋼琴表演的日子形成鮮明對比。
So, what happened? To understand, we have to go back to a decision made decades ago, when deregulation allowed airlines to set their own flights and routes.
那發生了什麼？要理解，我們必須回到幾十年前做出的一個決定，當時解除管制允許航空公司設定自己的航班和航線。
What was meant to make the industry more competitive, ultimately set off a race to increase profits and cement an airline's market share, leading to the world's first airline loyalty program.
本意是讓行業更具競爭力的做法，最終引發了一場增加利潤和鞏固航空公司市場份額的競賽，導致了世界上第一個航空公司忠誠度計劃。
- It's hard to see how airlines could survive today without loyalty programs.
很難想像航空公司今天沒有忠誠度計劃如何生存。
- If we just started from scratch without it, I don't know.
如果我們從頭開始沒有它，我不知道會怎樣。
- Today, airlines make on average only about $13 in profit per passenger.
今天，航空公司每位乘客平均只賺大約 13 美元的利潤。
But 2020 revealed that the loyalty program can hold a higher value than the airline itself.
但 2020 年揭示了忠誠度計劃可能比航空公司本身更有價值。
Here's the case study on how American Airlines created its own form of currency, changing the way the world flies and creating an entirely new business that has nothing to do with aviation.
這是一個案例研究，講述美國航空如何創造了自己的貨幣形式，改變了世界飛行的方式，並創造了一個與航空完全無關的全新業務。
- This was back in an environment where airlines weren't full.
這是在一個航班沒有滿員的環境下。
- In the late 1970s, American Airlines was losing some of its grip on the market.
在 1970 年代末，美國航空正在失去對市場的一些控制力。
- De-regulation had meant that there were lots of new airlines.
解除管制意味著有很多新的航空公司。
- Suddenly, it's a little bit of a free-for-all.
突然間，這有點像是一個自由競爭的市場。
- Everybody was trying to figure out how can we motivate people to fly more.
每個人都在想辦法如何激勵人們多飛行。
- New, smaller carriers began winning market share by offering lower prices, and the competition forced the traditional carriers to rethink their business model.
新的、較小的航空公司通過提供較低的價格開始贏得市場份額，競爭迫使傳統航空公司重新思考其商業模式。
They wanted to keep flying the same routes, while maintaining prices, but not lose customers to competitors.
他們想繼續飛同樣的航線，維持價格，但不想失去客戶給競爭對手。
- So, our advertising agency said to us, why don't you guys see if you can come up with some kind of a prize?
所以，我們的廣告公司對我們說，你們為什麼不看看能否想出某種獎品？
- The company brought together a small team to brainstorm.
公司召集了一個小團隊進行頭腦風暴。
- Bob Crandall, he was the chief executive of American Airlines at the time, and they brought in an outside consultant named Hal Brierley.
Bob Crandall，他當時是美國航空的首席執行官，他們還請來了一位名叫 Hal Brierley 的外部顧問。
- I definitely give Bob Crandall credit as the visionary who knew that incentives could drive behavior.
我絕對認為 Bob Crandall 是那個知道激勵可以驅動行為的有遠見者。
- The team was inspired by price stamps, which could be collected at various stores and then exchanged for rewards like a watch or a new camera.
團隊受到價格郵票的啟發，這些郵票可以在各種商店收集，然後兌換手錶或新相機等獎品。
And American transitioned that idea to give customers miles, the first iteration of advantage.
美國航空將這個想法轉變為給客戶里程，這是 AAdvantage 的第一次迭代。
- I think it did sound like a sort of simple idea at the time that if you give people some kind of prize, they might buy tickets.
我認為當時這聽起來像是一個簡單的想法，如果你給人們某種獎品，他們可能會買票。
- In the early days, that simply meant a free flight.
在早期，這只是意味著一次免費航班。
American Airlines was betting that the business the program attracted would be greater than the cost to redeem the reward.
美國航空打賭該計劃吸引的業務會大於兌換獎勵的成本。
But to nail that, American needed to set the right benchmark.
但要做到這一點，美國航空需要設定正確的基準。
The company knew that its average consumer flew about 40,000 miles a year.
公司知道其平均消費者每年飛行約 40,000 英里。
- Setting 50 meant, concentrate your travel, fly on us more.
設定 50,000 意味著，集中你的旅行，多乘坐我們的航班。
- The team also implemented a specific one-year time limit for the program and developed a way to track their customers.
團隊還實施了一個特定的一年時限並開發了一種追蹤客戶的方法。
- They knew this was Tom Jones, who flew from Miami to New York.
他們知道這是 Tom Jones，他從邁阿密飛到紐約。
They didn't know if this was the same Tom Jones who flew to Paris last month.
他們不知道這是不是上個月飛往巴黎的同一個 Tom Jones。
- Computerized reservation systems were still new and innovative and just getting off the ground.
電腦化預訂系統當時還是新的、創新的，剛剛起步。
- To solve this, American linked its reward and reservation system and assigned customers a specific number, inspired by rental car company Avis.
為了解決這個問題，美國航空將其獎勵和預訂系統連接起來，並給客戶分配一個特定的號碼，靈感來自租車公司 Avis。
- The goal was to know which customers were the most profitable.
目標是知道哪些客戶最有利可圖。
Obviously, if I knew what you flew last year, I can design incentives that will reward you for incremental spend.
顯然，如果我知道你去年飛了多少，我可以設計激勵措施來獎勵你的增量消費。
- After more than a year of planning, American Airlines lodged advantage on May 1st, 1981.
經過一年多的規劃，美國航空於 1981 年 5 月 1 日推出了 AAdvantage。
(bright music) - It seemed like the reaction was almost immediate.
反應似乎幾乎是立即的。
- United matched within a week, and shortly after, TWA, Continental, Northwest Orient, Breneth, and Texas International all followed.
聯合航空在一週內跟進，不久之後，TWA、大陸航空、西北東方航空、Breneth 和德州國際航空都跟進了。
- And literally, by September, every airline but one had a program.
而且到了九月，除了一家之外，每家航空公司都有了一個計劃。
- But the secret weapon American had over its competitors at the time was just that, time.
但美國航空當時對競爭對手的秘密武器就是時間。
- They had a one-year lead. - So, the other airlines had not done the planning necessary to keep track of the miles.
他們有一年的領先優勢。所以，其他航空公司沒有做好追蹤里程所需的規劃。
While they were figuring that, we were signing up their customers.
當他們在想辦法的時候，我們正在簽下他們的客戶。
- American thought that we might have 500,000 people.
美國航空以為我們可能會有 50 萬人。
We signed up in the first year, a million people.
我們第一年就簽下了一百萬人。
- But the influx of competitors through a wrench in American's lead.
但競爭對手的湧入給美國航空的領先地位帶來了挑戰。
When United launched its program without a one-year time limit on the miles.
當聯合航空推出其計劃時，里程沒有一年的時間限制。
- I think a lot of the airlines thought it was a one-year promotion.
我認為很多航空公司以為這是一年的促銷。
And it might have been a one-year promotion had United not made it open-ended.
如果聯合航空沒有把它變成開放式的，它可能就是一年的促銷。
- American quickly removed its limit as well.
美國航空也很快取消了限制。
- And of course, the consequence of that is that every frequent fire wants to belong to every frequent fire program.
當然，結果是每個常旅客都想加入每個常旅客計劃。
And they do. - And that's totally destroyed the initial economics.
他們確實這樣做了。這完全破壞了最初的經濟學。
(light music) - Without the time limit, the airlines found themselves once again one-upping each other.
沒有了時間限制，航空公司發現自己又在相互競爭。一次又一次。
Over and over and over again. - I said we need a gold program.
我說我們需要一個金卡計劃。我們需要一些東西來認可前 2%。
We need something that recognizes the top two percent.
這創建了一個確定激勵級別的系統。
- This created a system to determine levels of incentive.
里程越多，激勵越多。比如免費的頭等艙升級。
The more miles, the more incentives. Like a complimentary first-class upgrade.
這些升級也是讓乘客習慣更昂貴的住宿條件的一種方式。
These upgrades were also a way to accustom flyers to the more expensive accommodations.
這樣最終他們會自己購買那個選項。
So that eventually, they would buy that option on their own.
現在 AAdvantage 對他們來說利潤豐厚，因為獎品的價值與業務量成正比。
- Now the advantage from them is hugely profitable because the value of the prize is proportional to the amount of business.
里程成為一種貨幣，因為常旅客計劃開始吸引航空業以外的關注和資本，特別是來自銀行。
- Miles became a sort of currency as frequent flyer programs began attracting attention and capital from outside the aviation industry, specifically from banks.
航空公司開始將里程出售給這些銀行以換取現金。
The airlines began selling miles to these banks in exchange for cash.
銀行然後會將這些里程作為獎勵提供給他們的持卡人。
The bank would then offer these miles to their card holders as a reward.
但這一運動表明乘客不是航空公司唯一的客戶。
But this movement that passengers aren't an airline's only customer.
我的意思是，對航空公司來說，這太棒了，因為它意味著他們從你購買的各種與旅行或旅行需求完全無關的商品和服務中獲得收入。
- I mean, for the airline, that's great because it means they get revenue from all sorts of goods and services that you buy that are totally independent from travel or travel demands.
所以，AAdvantage 計劃本身已經成為一項業務，而且利潤非常可觀。
- So, the advantage problem has become the business in its own right at a very profitable point.
但通過獎勵消費里程，這些計劃不再只是關於常旅客。
- But by awarding miles for spending, these programs were no longer just about frequent flyers.
相反，它是關於花了多少錢。你在機票上花了多少錢比你飛了多遠更重要。
Instead, it's about money spent. - How much did you spend on your ticket becomes more important than how far you're flying.
所以，你不一定需要是一個每週四天出差的商務旅客才有機會獲得這個。
So, you don't necessarily need to be a road warrior whose boss sends you out on business travel four days a week to have a shot at this.
你可以通過信用卡消費達到那裡。
You can get there by spending under credit card.
引發了辯論。航空公司是否變得更像是碰巧飛行的銀行？
- Prompting the debate. Have airlines become more like banks that just happen to fly?
我認為航空公司不同意這一點，飛行才是重點。
- I think the airlines disagree with that, and the flying is sort of the point.
沒有航空公司就沒有計劃。
- There is no program without the airline.
但就這些計劃在他們財務中扮演的角色而言，我的意思是它們已經變得非常重要，而且很難忽視。
- But in terms of the role that the programs play in their finances, I mean they have become really prominent, and it's hard to ignore.
我的意思是，今天，在某些季度或一年中的某些時候，實際的航空運營並不賺錢。
I mean, today, often in some quarters or some parts of the year, the actual airline operation doesn't make money.
你知道，載客飛行的成本比他們付給航空公司的還多。
You know, costs more to fly passengers around than they pay the airline.
能填補空白的是忠誠度計劃和聯名信用卡，每次客戶刷卡都會給航空公司帶來一點收入。
What can fill in the gaps is the loyalty program and the co-branded credit card that gives airlines a little bit of revenue every time a customer swipes that credit card.
2023 年，美國航空從信用卡和其他合作夥伴關係中獲得了 52 億美元。
- In 2023, American Airlines brought in $5.2 billion from its credit card and other partnerships.
達美航空則為 66 億美元。但忠誠度計劃中承諾的優惠隨著受眾增長而變得更具競爭力。
And Delta, $6.6 billion. But the offerings promised in a loyalty program have become more competitive as the audience grows.
現在，客戶正在為這些服務付費。到 2022 年，像座位升級和行李費這樣的輔助收入約占航空公司總收入的 15%。
Now, customers are paying for these accommodations. By 2022, and silary revenues like that made from seat upgrades and baggage fees accounted for about 15% of total airline revenue.
當我開始工作時，當你買票時，一切都包括在內。無論你是否消費。
- When I started, when you bought a ticket, everything came with it.
隨著時間的推移，我們能夠做的實際上是創造更多產品，讓客戶為他們要消費的東西付費。
Whether you consumed it or not. What we've been able to do over time is actually create more products that enable customers to pay for what they're going to consume.
航空公司不斷重新校準其計劃以保持其經濟優勢。
- And airlines are constantly recalibrating their programs to keep their economic edge.
無論是改變某個身份的基準還是增加一次航班所需的里程數，航空公司對一英里值多少錢
Whether it's changing the benchmarks for a certain status or increasing the number of miles it costs for a flight, - Airlines have full control over how much a mile is worth
以及一次航班收費多少有完全的控制權。
and how much to charge for a flight.
所以，當你參與這個計劃時，你有點受他們的擺佈。
So, you are kind of at their mercy when you're participating in this program.
一些消費者稱這些變化為貶值，引發了審查。
- Some consumers have called these changes devaluations, drawing scrutiny.
2024 年，交通部對四大航空公司的忠誠度計劃展開調查，稱這些獎勵計劃可能不公平、具有欺騙性或反競爭。
In 2024, the Department of Transportation launched a probe into the four largest airline loyalty programs, describing the rewards programs as potentially unfair, deceptive, or anti-competitive.
很多人似乎真的相信航空公司想讓使用里程盡可能困難。
- A lot of people really seem to believe that airlines want to make it as hard as possible to use the miles.
我採訪過的每位航空公司高管都說這不是真的。
And every airline executive ever talked to has said that's not true.
我希望人們使用他們的里程。我希望他們在使用里程時能找到價值。
- I want people using their miles. I want them to find value when they use their miles.
但我確實認為當航空里程貶值時會有挫敗感。
- But I do think there's a frustration when airline miles get devalued.
然後突然間你買不了你以為能買的航班，因為他們的里程一文不值。
And then suddenly you can't buy the flight that you thought you'd be able to buy because their miles are worthless.
作為回應，一個航空業貿易團體表示，忠誠度計劃是航空公司競爭客戶的一種方式。
- In response, an airline trade group said that loyalty programs are a way for airlines to compete for customers.
但這些計劃對消費者決策的影響也可能正在減弱。
But the program's impact on consumer decisions may also be dwindling.
麥肯錫的研究顯示，這些計劃改變旅客行為的能力在 2017 年至 2021 年間下降，在 2021 年至 2023 年間再次下降。
Research by McKinsey showed that these programs' ability to change flyer's behavior declined between 2017 and 2021, and again between 2021 and 2023.
所以，為了讓忠誠度計劃保持吸引力，像美國航空這樣的航空公司正在尋求擴大人們可以消費和賺取里程的範圍。
So, in order for loyalty programs to keep their alert, airlines like American are looking to expand the scope of where people can spend and earn miles.
你可以用現金買的東西，我們想用里程提供，我們還想改變你可以用里程獲得的體驗。
- Things that you can buy with cash we want to make available with miles, and we also want to change even the experiences that you can use your miles for.
但像任何變化一樣，都有過度糾正的風險。
- But like with any change, comes the risk of overcorrection.
我們看到其他航空公司做出重大改變，然後不得不撤回其中一些，這是一個持續的迭代過程。
- We've seen cases at other airlines where they've made big changes and had to sort of walk some of them back, and it's kind of a constant iteration.
這意味著雖然你可能幾乎在任何地方都能賺取里程，但它們能給你帶來多少仍然有待討論。
- Which means that while you might be able to earn miles almost everywhere, how much they can get you is still up for debate.
感謝觀看。如果你想了解更多關於忠誠度計劃如何轉變的信息，請觀看我們對美國航空收益管理和忠誠度副總裁 Scott Chandler 的擴展採訪
Thanks for watching. If you want to learn more about how loyalty programs have transformed, watch our extended interviews with American Airlines VP of Revenue management and loyalty Scott Chandler
以及前 CEO 兼董事長 Bob Crandall。點擊這裡的連結在 wsj.com 上觀看。
and former CEO and chairman Bob Crandall. Click the link here to watch on wsj.com.
以及前執行長兼董事長 Bob Crandall。點擊這裡的連結到 wsj.com 觀看。