Barclaycard Freedom celebrates first birthday
Barclaycard Freedom, the loyalty scheme from Barclaycard, celebrates strong figures on its progress since launch one year ago. The scheme has encouraged Barclaycard Freedom cardholders to spend on average 14% more in launch partner stores than other credit card customers.
There are now one million active Barclaycard Freedom customers earning and redeeming Reward Money across over 20,000 coalition partners. Over the last 12 months, the average value redeemed has doubled. Joint promotions have driven much of this growth, with cardholders who have benefited from retailer special offers spending over two and a half times more than cardholders who have not taken advantage of the credit card benefits.
Over the last year, both large and small retailers have seen a rise in custom from Barclaycard holders as a result of available Reward Money, with the average amount of Reward Money being redeemed month-on-month almost doubling. Shell service stations have seen a 15% rise in linked sales from Barclaycard Freedom cardholders and, in smaller independent retailers over a quarter (27%) of Reward Money was earned and redeemed.
Sarah Alspach, marketing director of Barclaycard Freedom, said: “Since launch last year, economic conditions have been creating a pinch on shoppers’ wallets with resulting falls in high street spending. Barclaycard Freedom has been benefiting Barclaycard credit card holders and providing value for money for retailers, while delivering double digit growth in spending. We believe it is a programme that is good for shoppers as they earn pounds, not points and it is helping drive business for our coalition partners. Indeed, footfall, together with the insight we can provide, will be a crucial element in helping our partners navigate the next 12 months.”
The last year has seen the scheme attract a number of new retailer partners with House of Fraser and Nicolas Wines, now allowing their customers to earn Reward Money when they make purchases. What is more, the launch of the Freedom eStore on mybarclaycard.co.uk created a portal through which customers can shop online and still earn Reward Money.
Barclaycard Freedom is unique for a loyalty scheme as it allows Barclaycard customers to earn rewards in pounds and pence on their credit card, with no need for vouchers or coupons. Eligible Barclaycard credit card holders are simply rewarded for using their card when making a purchase at any participating retail partner in the UK with no need to register or receive a new card.
Barclaycard, part of Barclays Global Retail Banking division, is a leading global payment and credit card provider business which helps consumers, retailers and businesses to make and accept payments flexibly, and to access short-term credit when needed.
The company is one of the pioneers of new forms of payments and is at the forefront of developing viable contactless payments and mobile payment schemes for today and cutting edge forms of payment for the future. It also issues credit cards with rewards and charge cards to corporate customers and the UK Government. Barclaycard partners with a wide range of organisations across the globe to offer their customers or members payment options and credit.
In addition to the UK, Barclaycard operates in the United States, Europe and Africa.
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