How to help your employees save money on their Christmas spending this year

How to help your employees save money on their Christmas spending this year

According to the ONS, 57% of people in the UK are spending less on non-essentials and 51% are using less gas and electricity to alleviate the impact of rising prices. But, with Winter and Christmas fast approaching, it’s going to become even harder for people to minimise their costs. With the energy price cap increasing by a further 80% in October, people are naturally worried about how they will afford their basic living costs, let alone Christmas.

As a result, businesses are under increasing pressure to provide support to their teams so they can get through this challenging period and still enjoy the festive season. So, what can you do?

Giving your team the opportunity to save money on their Christmas shopping and everyday spending leading up to the end of the year is a valuable way to alleviate the pressure created by the cost of living crisis. Being able to make small savings in different areas will soon add up and help individuals offset some of the bigger costs they’re facing elsewhere.

Let’s explore just how valuable employee discounts schemes can be in helping your team plan the Christmas they love for less.

 

The value of delivering everyday savings

Shopping discount schemes are a valuable employee benefit year-round, as they give individuals the opportunity to save money on all kinds of spending to make their money go further. But in our current climate and any other economic crises, they become even more valuable.

With our benefits & discounts solution, employees can access thousands of money-saving offers at top UK retailers and brands including supermarkets, high street shops, restaurants and more! They can access their savings via a branded web portal and free app, both of which deliver a seamless experience that makes it easy to save.

When it comes to spending in the lead up to Christmas, there are some key areas that tend to take up a big proportion of people’s wallets. Here’s how you can help your team save in each of them, using an employee discounts scheme.

 

Image of Festive table with food and drink.

Groceries

Even though we’re already faced with rising prices, people also naturally spend a little more on food, drink and other household items as we head towards Christmas. So, being able to save on these products becomes even more valuable and will make a huge difference this year. With savings of up to 7% available at top UK supermarkets, employees can make considerable savings on their groceries and other household essentials each and every time they shop.

Last year, users saved over £703,000 on their supermarket shopping through our discounts solution.

By using the offers available to earn cashback on their supermarket shopping every week, employees can save the equivalent of up to three free supermarket shops a year. That’s about £300 in cashback – a valuable pot of extra money that individuals get back from spending they would do anyway.

Think about how many trips you make to the supermarket each month. Imagine being able to save some money each and every time you go. Week after week, month after month, those savings add up to become a considerable amount of money!

Individuals could save up to £60 on their supermarket shopping by the end of the year.*

On top of making fantastic cashback savings, employees have the option to spread the cost of Christmas too by ordering supermarket reloadable gift cards and digital vouchers in advance. This means that they earn cashback straight away, avoid taking a big financial hit in December and simply set aside their gift card or voucher to use on their Christmas food shopping at a later date.

Gifts

Many people already get ahead and start buying Christmas presents in September/October, and this approach will be even more popular this year as people try and reduce the financial pressure they feel in the Winter. With our discounts solution, employees can save up to 10% at leading high street retailers and online gift providers year-round, meaning they can not only spread the cost of gifts but save too.

Employees can save on tech, toys, jewellery, experience days and more.

On top of that, taking into account the current financial environment and recent figures released by the GCVA, gift cards and digital vouchers are set to be a popular gift. Through our solution, employees can earn cashback on gift cards and digital vouchers for a fantastic range of retailers from restaurants and high street shops to supermarkets and online retailers. So, not only can individuals give their friends and family members a useful gift this year to support their finances, but they can also earn cashback on the gift and reduce the impact on their own finances too. Win-win!

 

Homeware & Decorations

While Christmas decorations and homeware items will likely be low down on the priority list for many of us this year, having the ability to save on relevant products provides your team with further opportunities to cut down their costs at this critical time, while also enjoying the festive period.

Through our discounts solution, employees can save up to 10% at popular DIY & home improvement retailers, department stores and a wide selection of garden centres. So, whether it’s a Christmas tree, outdoor lighting or perhaps some festive tableware ahead of hosting for the big day, employees can save on every pound spent and make their money go that bit further.

On top of that, if individuals want to try their hand at creating their own decorations to cut costs further, they can save money on craft supplies at popular arts and craft retail chains too!

 

Eating out

Enjoying delicious food and drink alongside the company of friends and family is what Christmas is all about, but many people will unfortunately have to cut down on their restaurant visits and takeaways this Winter. With our discounts solution, you can give your team the opportunity to save at well-known restaurant chains and pubs so they can treat themselves for less if they want to.

Employees can save at well-known restaurants chains and pubs this Winter.

All they need to do is order a reloadable gift card or digital voucher for the establishment they’re due to spend with. They’ll earn cashback on the value and then simply use the card or voucher to pay for their meal. It’s as easy as that!

 

Deliver cashback savings

Savings are valuable in any form, but cashback provides a tangible and meaningful view of how much money an individual has saved over time. With money-off discounts, individuals have no perception of how much extra money they have as a result, which means the discounts can have less significance and, worst case scenario, lose their appeal to employees because they’re perceived to have minimal financial value.

Our discounts solution primarily offers cashback savings to employees and gives them the valuable opportunity to see their cashback balance in full. They can let their cashback balance grow over time and transfer an amount of their choice to their bank account when they’re ready. This means that they can use their cashback balance as a savings pot to draw down from to use towards their Christmas shopping, paying off their energy bills or to generally to support their finances during this difficult time.

 

Help your team plan the Christmas they love for less this year

Enhancing your employee benefits package by introducing a shopping discounts scheme is a powerful way to give provide long-term, effective support to your team during this economic crisis. But not only that. With so many people having to cut costs and re-consider their Christmas plans this year, having the opportunity to save on all kinds of spending will help your team plan the Christmas they love for less.

We’re all looking for ways to save at the moment, so why not consider introducing a scheme at this pivotal time to deliver effective support to your workforce?

Book a demo with us today and a member of our team will show you what our discounts solution looks like and how savings actually work through the platform.

BOOK A DEMO

 

Read next: The Cost of Living: How Your Employee Benefits Offering Can Help Offset Rising Prices

*This figure is based off individuals spending £70 per week and using the supermarket cashback offers available through peoplevalue’s shopping discounts solution over a three-month period.
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With cost of living increases continuing to create financial challenges for people in the UK, now is the time for businesses to take action to provide valuable, long-term support to help their employees.

Discover how to help your team make valuable savings and reduce the impact of rising costs this Winter and beyond with our e-book.