Restaurants continue to enjoy the lion’s share of consumer spend during Valentine’s Day.
According to FNB, on Valentine’s Day in 2019, its customers spent approximately R50 million at different restaurants around the country.
This is a substantial increase compared to what customers spent at restaurants during Valentine’s Day in 2017 and 2018 respectively.
FNB Retail Chief Executive, Raj Makanjee says, “We see similar spending patterns by customers who use our debit and credit cards, and expect more or less the same activity this year.
“Our payments activity indicates that Valentine’s Day is important to many customers and we encourage those who will be spending to spoil their loved ones to do so wisely.”
He adds; “In these tough times, we want to help our customers manage their money better by using value-added benefits to cut back on out-of-pocket expenses.
“In addition to the competitive discounts offered through our eBucks Rewards, we also encourage consumers to take advantage of our partnership with The ENTERTAINER app leading up to Valentines Day.”
Currently, over 260 000 FNB and RMB Private Bank customers are registered on The ENTERTAINER app, and we have saved each customer over R1 500 in fees they would have paid to register for the service, adds Makanjee.
Through the partnership with The ENTERTAINER app, FNB customers can enjoy two-for-one discounted offers at various restaurants, beauty salons, health & fitness facilities as well as hotels across Durban, Cape Town, Johannesburg and Pretoria.
Earlier this year, the ENTERTAINER also revealed that they will be adding more than 480 new merchants on the app in 2020.
“Many households are facing mounting pressure due to poor economic prospects that continue to erode disposable income. Therefore, it’s important for our partnerships to deliver value to customers.
“The active participation in our value-added benefits confirms that customers continue to derive value in what we have to offer them,” says Makanjee.