Nectar Points Devalued

Welshtiger

Just had notification that the value of nectar points are being reduced with need to spend £2 to collect 1 point instead of £1 per point. Excellent timing nectar as we go into cost of living crisis you reduce value of points by 100%. 

olgadapolga

Surely if the value had been reduced by 100% you'd get nothing?

That aside, it looks as though quite a few of the loyalty programmes are reducing in value.

pumpkin89

Supermarkets are being squeezed just as customers are.  The cost of the products they buy is rising faster than the shelf prices.

One of the levers they can pull is to spend less on marketing and discounts (including Nectar points) which means they can operate with slimmer margins and so keep prices down as much as possible.

They won't get rid of Nectar altogether as the data is very valuable to them and it would send even more customers to the discounters.  But I suspect most customers will have bigger concerns than only getting 0.25% back in points instead of 0.5%

Spies

Half ****** post, it actually applies to their credit card

General_Grant

So the value of a Nectar point (however acquired) has not changed.  It would still be worth half a (new) penny if used in making a purchase in Sainsbury's etc.

dcfc67

Time to cancel the Sainsburys credit card when it kicks in.
Value of extra points for sainsburys insurance products(eg: bonus points) will reduce by 50% also then