British self-proclaimed ‘Savvy Shoppers’ sitting on over £1bn+ of unused loyalty points despite rising cost of living

• Rising cost of living making 19 million Brits nervous about Christmas, with almost half of those polled, already saving since September
• 73% of UK shoppers are signed up to retail loyalty schemes, but only 20% regularly check their points, leading to an estimated £1bn+ of unused loyalty points, reveals new research by Co-op
• 81% of Brits admitting to approaching their food shopping differently in the lead up to Christmas, with 25% buying less branded products
• As part of renewed focus on convenience and commitment to offer greater value, Co-op have locked in lower prices on over 100 own-brand products by as much as 36 per cent 

More than a third (37%) of Brits are already nervous about the build up to the festive season as 63% of UK adults admitting they will start saving for Christmas early this year due to the cost-of-living crisis, with 46% admitting to already starting to save in September, according to new research by Co-op.

With increased pressures on household finances, 81% revealed they are already approaching their food shopping differently this year. 32% admitted to shopping around for the best deals, 25% buying less branded products, 25% buying foods which are cheaper to cook (to save on energy costs) and 24% will use the loyalty card points they’ve saved this year.

The convenience retailer said over 4 million of its members in the UK had accumulated £25M in unspent member rewards, which can be used as an extra cash boost this Christmas. With 73% of Brits having at least one grocery loyalty card, but with only 1 in 5 (20%) checking them weekly and 1 in 10 (10%) never checking how much their cards are worth, there is an estimated £1bn+ of points and rewards sitting unused across the UK.

Rebecca Birkbeck, Director of Community & Membership Participation, at Co-op, said: “We know that things are feeling tough for many of our members and customers at the moment and for some, the looming impact of Christmas is not creating a feeling of joy but one of financial dread.

“As we face into a cost-of-living crisis we are determined to make life fairer for our members, customers and communities. We have made a multi-million pound investment to lock in lower prices in until January next year, and we would urge our members to reap the benefits from the balance on their membership cards, whether to help them with their basket now or to save up the balance for an extra cash boost in the lead up to Christmas.”

The Co-op Membership offers customers a reward of 2p for every £1 spent on selected Co-op products and services, with another 2p contributing towards a local community cause, alongside partnerships to tackle food waste such as the Community Fridge network by Hubbub.  Co-op members also receive in-store exclusive deals and two personalised offers each week to choose from via the Co-op member app, based on the items they buy.

This membership card and app provides a tool to not only take the burden off people’s Christmas spending but supports those who are struggling. Other popular loyalty cards include non-food retail which 50% of us have a card for, followed by coffee shops (30%) and restaurants (13%).

As well as urging members to check their unused membership balances, Co-op has now locked in, until end of January the lower prices introduced in September on over 120 own-brand products by as much as 36 per cent. A weekly top up shop could now save shoppers over £100* across the year. Everyday favourites, from pizza, pasta and burgers to fruit and vegetables, were lowered in price and have now been ‘locked in’ into 2023 as Co-op responds to help its members, customers and communities who face rising household bills.

In addition, the retailer has teamed up with Britain’s Coupon Kid, Jordan Cox, to offer shoppers his best tips and advice on how the nation can all be a little bit more savvy when it comes to shopping.

Britain’s Coupon Kid, Jordan Cox, turned to coupons to save his family money aged 15 and was soon advising others on how to do the same. He famously managed to get a £600 shop for just 4p by using coupons.

Britain’s Coupon Kid’s Top 5 Tips to savvy shopping:

1. Sign Up To Loyalty Cards & Check Balance Of Current Ones

• When you sign up you may receive coupons, vouchers and exclusive offers
• Co-op recently announced that members currently have nearly £30,000,000 in unspent credit!
• The average that people are leaving on their cards is £19, so have a look to see if you’ve got a small fortune sitting in your account.

2. Drive Your Car More Efficiently to save £100s or £1,000s

• Having a bit of road rage can affect your wallet as well as your mood. Having a heavy right foot can make you drive much less efficiently.
• When driving, if you can lift off the accelerator when you see a red light or roundabout ahead, brake gradually and (if you’re not in a rush) drive closer to 60 MPH on a motorway rather than 70 MPH, it could make a huge difference to your fuel consumption.
• Driving at a more efficient 50 MPG vs a non efficient 40 MPG can make a difference of nearly £400 a year, based on an average sized hatchback.

3. Abandon Your Online Basket For Exclusive Coupons

• For some clothing and home retailer websites, if you fill up a basket of goodies, and then just leave the website without purchasing – you may receive an exclusive email from them saying “your basket is still full – here’s a voucher for money off”.

4. Yellow Stickers At The End Of The Day

When supermarkets have food expiring at the end of the day, they usually discount it so it doesn’t go to waste. This is a time that savvy shoppers can pick up a bargain.

If you pop into a supermarket within the last few hours of opening hours, you should find lots of items reduced for a quick sale.

You can pick up whole dinner (plus desert) for up to 90% off the normal price – but of course its first come first served and varies each day. I once got a large pizza and huge tub of trifle for 60p in total (when they would have cost £6)!

The meal deal/lunches section is always a good bet at the end of the day too when food is made fresh

5. Sign Your Whole Family Up For Birthday Freebies

• There are plenty of different retailers and brands that will send you freebies when you turn a year older. When the big day comes around, if you’re signed up to the retailers newsletters or loyalty cards, you get a treat.
• You could get your hands on a £5 voucher at big high street stores, or total freebies at restaurants like free milkshakes, glasses or wine or a meal.
• Most of these have no minimum spend – so you can get total freebies with it. If your whole family is signed up, you’ll all get freebies throughout the year.
• If you’re worried about getting spammed with new emails, you can sign up for a free separate email address, to stop clogging your normal inbox.