Rising oil prices and a weaker rand has led to another fuel price increase. This is expected to add further pressure to the already stretched pockets of South Africans as well as to the bottom line of local small- to medium-sized enterprises (SMEs).
ALSO READ: Spend smart this holiday season with Standard Bank UCount Rewards
Holiday makers who are about to embark on a trip this holiday season will have to fork out more for fuel spend, while businesses that deliver or travel to their customers, will also feel the impact of the increase.
Fortunately, there are ways to offset the impact of such increases on your budget, such as by earning and redeeming rewards points like Standard Bank UCount Rewards Points to pay for fuel or a bite from FreshStop at Caltex.
“While consumers may have used their Rewards Points that they accumulated as part of loyalty programmes to spoil themselves in the past, Covid-19 radically changed this behaviour,” explains Fayelizabeth Foster, Head of Loyalty and Rewards at Standard Bank. “With the hard lockdown impacting spending patterns as outlets closed and people lost their ability to earn an income, consumers suddenly shifted to using loyalty programmes to supplement their income by using Rewards Points to purchase necessities at participating retailers.”
Standard Bank UCount Rewards members earn Rewards Points every time they fill their vehicles up with fuel at Caltex petrol stations, using their qualifying Standard Bank card, or when swiping their card at a wide variety of participating Rewards Retailers around the country.
It is now easier for customers to earn more Rewards Points on their spend than ever before through the Choose Your Own Rewards feature, which enables you to earn up to 20%* back in Rewards Points based on your spending preferences in your chosen category of either Grocery, Fashion or Lifestyle spend.
Let’s say, for example, you decide to choose the grocery category. Standard Bank then gives you the opportunity to earn up to 20%* back in Rewards Points earned when spending at popular grocery retailers across the country such as Checkers, Checkers Hyper, Makro, Spar, Food Lover’s Market, Pick n Pay, Shoprite, Fruit & Veg City and Woolworths.
Additionally, you can get up to R5* back in Rewards Points per litre of fuel and oil purchased, based on your Tier Level, when filling up at Caltex stations. These Rewards Points can then be redeemed at a Caltex to pay for your next tank of fuel. If you don’t have enough Rewards Points to pay for your fuel purchase in full, you can use your Standard Bank card to pay the difference.
“Since inception of the UCount Rewards programme in 2013, UCount has rewarded members with over R1 billion for fuel purchases at Caltex garages, which has helped stretch the budgets of millions of customers in what has been a tough economic environment,” says Foster.
These Rewards Points could also be redeemed at UCount Rewards Retailers such as Makro or Dis-Chem, to help pay for groceries or health essentials. Business customers could also leverage off Rewards Points earned to have their delivery vehicles serviced at Car Service City or tyres replaced at Tiger Wheel and Tyre.
“While demand for fuel from individuals may have dropped off due to the “work from home” trend, the opposite is true for businesses who have had to ensure that they have delivery capabilities in place to meet the shift in consumer behaviour to home delivery. As a result, fuel and vehicle maintenance is likely to feature as an expense for more businesses,” says Foster.
“Standard Bank understands that South Africans are facing financial challenges and we hope to provide some relief to our consumers and help them stretch their rands through the various ways of earning and redeeming UCount Rewards Points,” says Foster.
*Based on your Tier Level. Ts and Cs apply.
Image Courtesy: www.twt.co.za