Printer Friendly

POINTLESS; pounds 2bn unclaimed on loyalty cards.


WE are owed pounds 2billion in unclaimed goodies from loyalty card schemes, says a study.

And nearly a quarter of it - pounds 460million worth - never will be redeemed even though it could give us free holidays, discounts, shopping vouchers and other gifts and services.

Up to 15 per cent of households have points to redeem but nearly a quarter of them may not bother, said the report by International Consumer Loyalty Programmes.

But others are almost addicted to getting something for nothing by shopping at the same supermarkets and petrol stations or staying at the same hotel chains.

Many people have more "money" in this unofficial currency than they do in the bank. Worldwide there is pounds 500 billion on loyalty cards, which has led to experts describing it as a new currency called "the reward dollar".

The average home has at least two cards which give loyalty points. Nearly one in five - 18 per cent - have more than nine and seven per cent have more than 20.

The average household builds up around 19 points a week and redeems them twice a year.

ICLP director Tony Clarke said many people do not redeem points because they want a free gift and not a discount on their shopping.

He said: "The the perceived value of the reward usually far exceeds the discount."

Of those who do redeem their points, 23 per cent go on weekends away and 33 per cent swap them for goods such as TVs or camcorders.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:The Mirror (London, England)
Date:May 31, 2005
Previous Article:Bombers murder 27 at protest.
Next Article:SUPER HOLIDAY GADGETS! WIN THEM ALL BY MIDNIGHT TONIGHT; in assocation with PLUS E10 OFF Orders over e100 AT

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |