UK customers lacking out on £1.2 billion in unused grocery store loyalty card factors
A survey of 2,000 adults found three quarters currently have cash available across an average of three supermarket loyalty schemes
Brits currently have points stored across three different loyalty schemes(Image: Getty Images)
Brits could be sitting on up to £1.2 billion in unused supermarket loyalty points, according to new research. A survey of 2,000 adults found that 75% currently have cash available across an average of three supermarket loyalty schemes. Among these shoppers, nearly £31 has been banked per person.
The reasons for storing up points varied as 45% plan to save them for bigger seasonal spends, while 32% want to maximise the points throughout the year. Almost two thirds (64%) are applying a value-driven mindset beyond the supermarket aisle. This includes timing big purchases around the best deals (43%), cancelling subscriptions when not in use (32%), and rotating streaming services (13%).
Many are even exploring other areas which could help them save money with 79% of bill payers interested in using their energy more flexibly.
Customers who prepay for their energy are especially interested, with 93% interested in moving their energy use to a different time of day if it could save them money.
Victoria Bacon, director at Smart Energy GB, which commissioned the research, said: “People are becoming increasingly smart about how they make their money go further – whether that’s building up supermarket loyalty points for a bigger shop, or timing purchases to get the best possible value. What we’re seeing is that same value-focused mindset in other parts of everyday life too.
“For some people that includes their household energy, with more attention being paid not just to what things cost, but when gas and electricity are used.”
According to the data by OnePoll.com, 63% think they have become savvier about how and when they spend their money compared to five years ago. With 77% adding this extends to how they manage their household energy.
To help with their energy costs, 60% of bill payers are switching off anything they aren’t using. Victoria added: “Many are exploring different types of flexibility in their household when it comes to their spending and energy use.
“Tools like smart meters can allow you to access tariffs and schemes which reward you for shifting your energy use to different times of day.
“They also come with other everyday benefits, such as accurate bills based on actual usage – and those with smart prepay meters can top up their energy from home and keep track of remaining credit more easily.”
It also emerged from the survey that 31% have tried to make their home more insulated so they don’t waste heat. And 24% have swapped out low efficiency gadgets and appliances for more economical options.
Victoria concluded: “From supermarket rewards to flexible tariffs and schemes, there are more tools than ever that could help people manage how they spend and use their money.
“For some households, using energy more flexibly could help them make savings, but it’s important to take the time to understand how these options work and whether they’re the right fit for your home and lifestyle.”
