Brits are sitting on £5.2billion worth of unused loyalty card points, a study has found yesterday.
The typical adult has at least three loyalty cards – but hasn’t got a clue what they are entitled to or what the points mean.
But most estimate their average card entitles them to approximately £36.57 of goods – which means a total of £109.71 to spend in fast food outlets, supermarkets and coffee shops.
The study of 3,000 people shows one in five signed up for their loyalty cards without having any idea what they were for.
The average person owns at least one loyalty card which they have never used – and 18 per cent have old loyalty cards in their wallet which they started using but stopped because they didn’t know what they were doing.
But despite being relatively ignorant about the cards they are using, the average Brit has been collecting points for up to five years.
Alex Cacouris, Head of Marketing for the Subway chain, which commissioned the research in conjunction with its new Subcard Loyalty Scheme said: ”Many Brits are not taking full advantage of their loyalty cards.
”Many just don’t understand what their points entitle them to. Loyalty cards can provide savvy consumers with extra value in the medium to long term.
”But this research shows that many aren’t using their cards to release this potential.
”It’s a missed opportunity if consumers don’t redeem their points or look out for special offers and promotions, that can provide incremental opportunities to boost their rewards.
”The research has allowed us to further develop the Subcard Loyalty Scheme, which we hope will provide an efficient, easy to use point redemption scheme that allows customers to collect their loyalty points completely hassle free and then track their balance online.”
The study also showed a third of people don’t often use their loyalty cards because they forget to carry them around, and a quarter can’t be bothered to work out what the points mean.
A fifth of people worry they would spend more in store if they got loyalty cards, and four in ten people don’t know what their loyalty card points entitle them to, regardless of whether they are for use in the supermarket, DIY store or fast food restaurant.
And 36 per cent don’t know how much money they get for their points, or what they can convert their points into.
Three quarters of people do think loyalty cards are a good way of saving money – and 61 per cent say this is why they got the cards in the first place.
Just under half of folk love the idea of getting freebies, while 21 per cent feel like they can buy more things when using their loyalty cards.
And 68 per cent of those polled think loyalty cards give them value for money.
Researchers found that despite women being more frequent shoppers, men have just as many loyalty cards in their wallets.
But men are just as ignorant about what they are entitled to and are even less likely to redeem their points than women – 17 per cent have never claimed anything on their three cards, despite regularly totting up points when shopping.
The poll shows women are more tempted by freebies when it comes to signing up for loyalty cards – 52 per cent compared to a third of men.
And men are more likely to believe they will save money long-term.
