Standard Bank and Shoprite partner to ease grocery expenses

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This collaboration boosts UCount Rewards benefits and will allow customers to redeem rewards points for groceries and other products both in-store and online.

“This partnership unlocks powerful synergies between Africa’s largest bank and Africa’s most extensive retail network – ensuring that customers enjoy greater savings and rewards on everyday grocery purchases. Redeeming UCount Rewards Points for groceries will ease the pressure many households feel at the tills,” says Funeka Montjane, chief executive of Personal and Private Banking at Standard Bank.

The partnership comes as food prices climb despite slowing inflation. The latest Pietermaritzburg Economic Justice and Dignity Household Affordability Index shows the average Household Food Basket rose by 2% year-on-year this January, costing R1,032 more than three years ago.

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“With rising costs of utilities, fuel, and other essentials, households are feeling the strain. Initiatives like this are crucial in easing financial stress,” explains Montjane.

Bringing more value to customers

The partnership between Standard Bank and Shoprite Checkers Group goes beyond Rewards Points. It leverages Shoprite's network of over 3,000 stores and digital platforms like Sixty60 to deliver personalized rewards.

With brands like Checkers, Checkers Hyper and Shoprite, this partnership tailors rewards to South Africans’ diverse needs and pockets.

Unpacking the enhanced rewards

From April, Standard Bank UCount Rewards members will receive the following benefits on every product, every day including:

• Up to 30% back in Rewards Points in-store at Shoprite and Checkers.
  
• Up to 40% back in Rewards Points from Sixty60
  
• Flexibility to redeem Rewards Points both in-store and online.

“We focused on what truly matters to our customers and aligned the UCount Shoprite Checkers rewards with their daily needs to ensure meaningful value with every swipe,” says Montjane.

“By combining Standard Bank’s data insights with Shoprite Checkers’ retail expertise, we’ve created a seamless and innovative rewards experience that also drives targeted behaviour shifts.”

Beyond Reward Points benefits, this partnership aims to increase Standard Bank customers’ transaction volumes at Shoprite Group stores and boost the bank’s share of grocery spend – a category where consumers spend most frequently.