UK Shoppers Hoard £1.2 Billion in Unused Supermarket Loyalty Points
British consumers are sitting on a staggering £1.2 billion in unused supermarket loyalty points and rewards, according to new research. A comprehensive survey of 2,000 adults has uncovered that 75% currently have cash available across an average of three different supermarket loyalty schemes. Among these shoppers, nearly £31 has been banked per person, highlighting a significant accumulation of unspent value.
Strategic Saving for Seasonal Spends
Nearly half of respondents, specifically 45%, plan to save their points for bigger seasonal expenditures, demonstrating a deliberate approach to maximising value throughout the year. This cautious strategy is driven by ongoing cost of living pressures, with 32% of shoppers aiming to optimise the value of their points consistently rather than spending them impulsively.
This value-driven mindset extends far beyond the supermarket aisle. Almost two thirds, or 64%, apply similar frugal tactics in other areas of their finances. Common practices include timing major purchases around the best available deals, a strategy employed by 43% of consumers. Additionally, 32% cancel subscriptions when not in use, and 13% rotate streaming services to minimise expenses.
Energy Flexibility and Financial Savviness
The research, commissioned by Smart Energy GB, also reveals a growing interest in energy flexibility as a means to save money. A remarkable 79% of bill payers expressed interest in using their energy more flexibly. Prepayment energy customers appear particularly enthusiastic, with 93% willing to shift their energy consumption to different times of the day if it results in lower bills.
Victoria Bacon, director at Smart Energy GB, 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. What we're seeing is that same value-focused mindset in other parts of everyday life too."
She added, "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."
Rising Financial Awareness and Practical Measures
Data from OnePoll.com indicates that 63% of Brits believe they have become more financially astute about how and when they spend compared to five years ago. This heightened awareness extends to household energy management for 77% of respondents.
To combat rising energy costs, 60% of bill payers are proactively switching off appliances not in use. Victoria Bacon noted, "Many are exploring different types of flexibility in their household when it comes to their spending and energy use."
She highlighted the role of technology in facilitating savings: "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. They also come with other everyday benefits, such as accurate bills based on actual usage – and those with smart prepay meters can top up their energy from home and keep track of remaining credit more easily."
Home Efficiency Improvements
The survey further uncovered practical steps consumers are taking to enhance home efficiency. 31% have attempted to improve their home insulation to prevent heat waste, while 24% have replaced low-efficiency gadgets and appliances with more economical alternatives.
Victoria Bacon 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."
This research underscores a broader trend of consumers adopting meticulous financial strategies across multiple domains, from loyalty point accumulation to energy consumption, as they navigate economic challenges.
