Ask AI 3minNew data has revealed how South Africans are using loyalty benefits to stretch their Randelas until the next pay day.
As South Africans, were are known for our resilience.
No matter what, we have the ability to make a plan.
Whether turning adversity into a punchline, finding a clever workaround or making a little extra money on the side, the ability to adapt is part of the country’s DNA.
And with rising fuel prices, higher grocery bills and the increasing cost of everyday living putting pressure on household budgets, consumers are finding new ways to make their money go further.
New data from Standard Bank’s UCount Rewards programme suggests that South Africans are becoming more strategic about their spending, with many making greater use of loyalty rewards to offset the cost of everyday essentials.
An analysis of UCount members’ transactions and Rewards Points redemptions over the 12 months to October revealed a 72% increase in the number of members using their points to pay for groceries.
Interestingly, the trend does not necessarily indicate that people are buying less.
UCount members continued shopping for groceries at roughly the same frequency as a year earlier and purchasing similar quantities.
Instead, they appear to be changing how they pay, using available rewards to ease the pressure on their household budgets.
According to Head of Loyalty and Rewards at Standard Bank, Fayelizabeth Foster, grocery spending remains a non-negotiable priority for consumers.
“What this data tells us is that our members are increasingly leveraging their rewards to help them offset that cost and many others.
They are becoming increasingly strategic about how they stretch their budgets, Foster said.
Fuel is another area where consumers appear to be paying closer attention to the value they get for their money.
Fuel is another area where consumers appear to be paying closer attention to the value they get for their money.
Although higher fuel....
