Johannesburg, 06 Oct 2006
eBucks members spent 36% more in this financial year, which ended in June, says the reward programme.
Members earn rewards through transactions and can then spend these rewards online, through the call centre, as well as with eBucks` partners.
CEO Lezanne Human says the growth in the amount of eBucks spent is a result of an expanded retail partner base, as well as higher member activity levels which saw an increased earn-to-spend ratio.
"In the 2006 financial year eBucks` membership base grew by 14%, to close to a million members. But perhaps more important than the growth in the member base, is that we have found that members have a higher cross-holding of products and are earning more eBucks from more partners. Completing the circle is the increase in eBucks spent which proves that members are getting value from the programme."
During the 2006 financial year, rewards earned by members grew to R193 million, the earn-to-spend ratio grew from 62% to over 70%, and the total eBucks allocated since inception grew to R683 million. Costs were contained as a result of a migration to open source software.
Human says part of the allocation growth can be attributed to the tremendous credit growth experienced in SA because of the low interest rates that prevailed for most of the review period.
"With First National Bank being our biggest reward partner, some of the allocation growth we have seen in the last financial year can be attributed to the growth in credit demand."
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