Brits Sitting on £1.2 Billion in Unused Supermarket Loyalty Points
New research indicates that British consumers could be hoarding up to £1.2 billion in unused supermarket loyalty points. A survey of 2,000 adults found that 75 per cent currently have cash available across an average of three different supermarket loyalty schemes.
Among those with points banked, shoppers have nearly £31 ready to help stretch their spending further. The reasons for storing up these points vary significantly, with 45 per cent planning to save them for bigger seasonal spends, while 32 per cent aim to maximise the value of their points throughout the entire year.
Value-Driven Mindset Extends Beyond Supermarkets
Almost two thirds of respondents, specifically 64 per cent, are applying this same value-driven mindset beyond the supermarket aisle. This includes timing big purchases around the best available deals, a strategy employed by 43 per cent of those surveyed.
Other popular money-saving tactics include cancelling subscriptions when not in use, practiced by 32 per cent, and rotating streaming services, done by 13 per cent. Many consumers are exploring additional areas to save money, with 79 per cent of bill payers expressing interest in using their energy more flexibly.
Customers who prepay for their energy show particular interest, with 93 per cent willing to shift their energy use to different times of day if it could result in financial savings.
Smart Energy Management and Consumer Savviness
Victoria Bacon, director at Smart Energy GB, which commissioned the research, commented on the findings. "People are becoming increasingly smart about how they make their money go further – whether that's building up supermarket loyalty points for a bigger shop, or timing purchases to get the best possible value," she said.
"What we're seeing is that same value-focused mindset in other parts of everyday life too. For some people that includes their household energy, with more attention being paid not just to what things cost, but when gas and electricity are used."
According to data from OnePoll.com, 63 per cent of respondents believe they have become savvier about how and when they spend their money compared to five years ago. Furthermore, 77 per cent extend this careful approach to how they manage their household energy consumption.
To help control energy costs, 60 per cent of bill payers are switching off anything they aren't using. Victoria Bacon added, "Many are exploring different types of flexibility in their household when it comes to their spending and energy use. Tools like smart meters can allow you to access tariffs and schemes which reward you for shifting your energy use to different times of day."
Additional Household Savings Strategies
The survey also revealed that 31 per cent of respondents have tried to make their homes more insulated to prevent heat waste, while 24 per cent have swapped out low efficiency gadgets and appliances for more economical options.
Victoria concluded, "From supermarket rewards to flexible tariffs and schemes, there are more tools than ever that could help people manage how they spend and use their money. For some households, using energy more flexibly could help them make savings, but it's important to take the time to understand how these options work and whether they're the right fit for your home and lifestyle."
The research highlights a significant shift in consumer behavior, with Brits not only accumulating substantial unused loyalty points but also adopting comprehensive value-driven approaches across multiple aspects of their financial lives.
