MARKETING: Clicks Now Offers No Cost Funeral Cover
Recent Western Cape Business News
CAPE TOWN-based Clicks, South Africa’s leading health and beauty retail chain, has announced an industry first - the launch of no cost funeral cover for primary registered ClubCard members. The launch of the funeral cover forms part of the company’s strategy to add new revenue streams to the Clicks Group and differentiate itself from the market by offering its consumers innovative, relevant financial services products that will benefit them.
Apart from the no cost funeral cover, Clicks will also be offering additional family funeral insurance, Clicks Life Insurance Cover, Women Only Cancer and Accident Insurance Cover, Hospital Event Insurance Cover and a choice of three different car and home insurance cover as well.
Michael Harvey, Managing Director of Clicks, says, “Following extensive market research, we found that there is an appetite out there for good value, Clicks-branded financial services products.” Harvey says the addition of the new financial products to Clicks’ portfolio will see a new relationship with the Regent Insurance Group, a short-term insurance and life assurance company. “This partnership allows us to deliver extended financial services to ClubCard members and shoppers. These products have been designed with our customers’ needs in mind. Partnering with a reliable and trusted brand like Regent Insurance Group gives us the opportunity to focus on what we do best – offer our clients value for money,” he says.
Harvey adds that the value of the no cost funeral cover will be offered to card members based on ten times the value of their average monthly purchases at Clicks, over a period of six months. “ClubCard members will receive immediate cover once they have activated the benefit and the more they shop at our stores, the more cover they can get, up to a maximum value of R7 500. ClubCard members with no spending history will receive cover worth R1 000 to start off and the amount will increase as their spending increases on a month-to-month basis. An added benefit is that premiums paid on all of our insurance products can earn customers 5 percent cash-back annually, for a claim free year, or a reduction on future premiums – giving consumers even more reasons to shop with us.”
Clicks ClubCard membership has increased to approximately 3.6 million active members since the card was introduced to customers in 1996. At the end of the last financial year, ClubCard member sales constituted 74 percent of the group’s total sales. Harvey says the introduction of the new funeral plan will aim to retain those consumers and keep them spending at Clicks. “In the short term, two to five years, we will focus on establishing our financial services offering and look to expand our credit offering, which is in partnership with First Rand Bank,” says Harvey.
Clicks Financial Services has been offering financial services products to the market for over five years. Products already on the market include the Clicks ClubCard Credit Card and Clicks Car and Home insurance.
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