Sainsbury’s Finance is further incentifying its financial portfolio by linking its current Nectar reward system to other products, such as home insurance, Sainsbury’s credit cards or savings accounts.
The Nectar reward system gives customers a card which is topped up with points for every purchase made in store or online. The points can then be used against future Sainsbury’s purchases or a whole range of other ‘Nectar Treats’ as they accumulate.
Customers who take out a pet insurance or home insurance policy with the supermarket giant will enjoy double points on every purchase made in Sainsbury’s stores or online for a full two years from the date they sign up. Savings account and credit card customers will also be applicable for the new incentive scheme.
The group claimed this was the equivalent of getting 1% off their total shopping bill.
Sainsbury’s is looking expand its selection of financial services after research for the group discovered that 34% of people are signed up to one of their financial products. In addition to this, 70% of the people surveyed admitted they would consider signing up to one if they were adequately rewarded.