Festive eBucks results

3 Feb 2010

FNB's hugely popular rewards programme, eBucks, achieved its highest festive season with members spending over R75 million worth of eBucks. This resulted in an 8.4% increase for the calendar year, which is in stark contrast to the 4.8%1 decline in general retail sales for 2009, which many retailers reported as below market expectations.

“Our results clearly indicate that bank's customers continue to recognise us as a relevant and tangible rewards currency that can be used to offer a measure of financial relief during the current economic climate,” says Adrienne Bewsher, operations executive at eBucks.

“We have noted a definite trend towards value, with vouchers becoming an increasingly popular purchase item for many of our members. Woolworth's vouchers were the most popular choice in the eBucks shop, as were eBucks discounts, which enabled qualifying bank customers to access discounts of up to 50%.”

Card sales increase

Both the card and its Internet partners experienced strong growth, with the card experiencing a 20% year-on-year increase in the number of unique shoppers in December 2009. This was in part assisted by the bank's launch of the eBucks and Engen partnership, whereby members can spend their rewards at Engen service stations nationwide using their card.

The rewards travel also experienced growth, with members making their travel arrangements far in advance unlike the previous festive season. The bank's customers can now also spend their rewards on airtime and prepaid electricity via the bank's mobile channel that launched late last year, which also contributed to the impressive festive results.

“As the rewards programme of choice, it offers real value to our members by truly helping them to stretch their wallets; while at the same time providing the widest range of spend choices and channels,” concludes Bewsher.