Through its popular UCount Rewards programme, Standard Bank was able to put money back into the pockets of its customers over the 2021 year-end spending period. 

This stretched the holiday budget of millions of SA consumers amid a challenging economic environment.

Fayelizabeth Foster, head of loyalty and rewards at Standard Bank SA, says the amount redeemed through the programme in 2021 is a 23% increase from the previous year-end period. At the same time, consumer spend increased 17% in 2021 compared with 2020. The UCount points redeemed helped members save money on their purchases at participating retailers over this time. 

Standard Bank data shows that Dis-Chem, Hirsch’s and Makro (in no particular order) were among the top three retailers where UCount members chose to redeem their points.

UCount Rewards members can earn points every time they swipe their Standard Bank personal cheque, credit, or debit cards, earning even more points when spending at participating retailers. 

The bank has also made it easier for customers to earn more reward points than ever before through the Choose Your Own Rewards feature. This enables members to earn up to 20% back in points based on their spending preferences in their chosen category of grocery, fashion or lifestyle.

“Consumer spending patterns change drastically during the festive season as their spending is influenced by factors such as travelling, vacations, gatherings with friends and family, celebrations and gifting,” says Foster. 

“However, the reality is that many individuals may have found themselves experiencing financial pressures due to the impact of rising costs, among other factors. By redeeming their UCount points, members were able to make their money go a little further.”

Many people travel around the country in the December to January period for a much-needed break and to visit family and friends. But the hefty price of fuel would’ve made road trips more costly at a time when many people were strapped for cash. 

“There are so many quick wins through the UCount loyalty programme that can help ease your financial burden. You can pay for necessities during the December-January period including petrol, toiletries, groceries, gifts and even stationery before the school year starts. This ultimately helps with liquidity,” says Foster.  

“As the name suggests, UCount Rewards provides an opportunity for Standard Bank to give something back to customers by making it easier for them to be rewarded for their spend over the year.”

This article was paid for by Standard Bank.