As a parent, I constantly look out for ways that I can save. I do have a number of loyalty cards for brands which I often purchase from. Some of them do have good offers but some of them, ensure that you spend a whole lot before you actually receive something of consequence. I am also a member of cashback sites as I believe that every penny counts.
Here is a press release from Quidco –
WHAT¹S THE LOYALTY POINT?
44 per cent use loyalty cards simply out of habit
There may be 25 million loyalty card holders in the UK but new research has revealed that almost half of Brits (44 per cent) use their loyalty cards more out of habit than anything else. Polling 2,000 UK loyalty card holders, the study found that over half (55 per cent) do not know the true financial value of a point.
The findings, which were commissioned by leading cashback and voucher site Quidco, showed that one in ten Brits feel loyalty cards no longer offer good value with nearly a half (42 per cent) saying they spend a lot but get little back. One in five (19 per cent) think that earning points on purchases is an outdated way to shop.
The growing consumer dissatisfaction with traditional loyalty schemes has seen almost a fifth of Brits (18 per cent) resign one or more of their cards to the bin in the past year, with nearly half of the respondents questioned (46 per cent) stating they would prefer cash in the current financial climate.
The value on offer through the largest loyalty points scheme Nectar was also called into question with nearly a quarter of members (23 per cent) admitting they are not sure what they get out of using their card. According to the study, customers collecting Nectar points at stores such as Sainsbury’s must spend £250 to collect enough points for a £2.50 McDonald’s Sausage and Egg McMuffin, £13,950 to earn a 32 inch flat screen TV or £5,000 to get a toaster which costs £50 in the shops. Despite retailing at £20.00, a George Foreman Grill would cost Nectar customers the equivalent to £2,0003.
In contrast, 43 per cent said that cashback sites offer good value and make a real difference to purchases, whereas only 36% of loyalty card holders said they were satisfied with the rewards they receive from more outdated schemes. Plus, a third of those surveyed (31 per cent) revealed that they couldn¹t imagine not using cashback sites to purchase everyday items. Over half of savvy shoppers (58 per cent) are now using cashback sites and voucher codes to supplement traditional loyalty schemes in order to make their money go further.
While Nectar may be the largest loyalty scheme in the UK with over 19 million users, the research revealed that over a third of respondents (38 per cent) were dissatisfied with the rewards on offer.
Such is the lack of clarity over what points are worth that 35 per cent said they had saved up Nectar points only to find that they are not worth as much as anticipated and almost a fifth (19 per cent) of Nectar card holders have never bothered to redeem them.
Andy Oldham, MD at the UK¹s biggest cashback website Quidco said: ‘Our research reveals that people are tiring of traditional schemes and are increasingly keen to make their money go further through choosing pounds over points. We¹ve seen over one million new members join Quidco in the last twelve months alone, as traditional loyalty schemes like Nectar fall out of favour and other platforms offering more choice and better value emerge.
We’re responding to this shift in attitude, by working hard to offer our members the very best choice and value for money, giving them the chance to earn cashback on each and every purchase they make whether shopping online, in-store or on mobile.’
Founded in 2005, Quidco is the UK’s number one cashback and voucher site and has over 3.5 million members. As well as offering savvy shoppers more value on their purchases, the next wave of loyalty scheme boasts over 3,500 retailers including asos, Debenhams, Amazon, Expedia, B&Q and Tesco. Families earn on average £780 a year with one member earning £7,950.60 in one year.
Savvy shoppers keen to find out more about why it pays to use Quidco can visit www.quidco.com<http://www.quidco.com>