It turns out all those loyalty cards – which are currently weighing down your wallet – could be doing you more harm than good.
According to finder.com.au, Australians who sign up to loyalty programs actually spend 40% more in store than those who don’t.
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In 2016, 82% of Australians over 18 were enrolled in at least one loyalty program. That means 14.9 million people are receiving daily emails and text messages promising them deals and discounts that are just too enticing to ignore.
Bessie Hassan, money expert at finder.com.au, says while it’s tempting to sign up when a discount is on offer, it can lead to impulse spending down the line.
“We’ve all been in a store and given away our personal details for an extra 10% off. While it makes sense at the time, days after we start receiving information about offers and promotions that tempt us to make another purchase,” she said.
“It’s no secret that these rewards programs generally allow retailers to track buying habits and personalise newsletters to encourage shopping.