Discovery Miles Đ-Day bigger than Black Friday

Johannesburg, 13 August 2021– In July, Discovery Bank and Vitality launched its new Discovery Miles Đ-Day campaign. Hylton Kallner, CEO of Discovery Bank, explains that Discovery has created a new mid-month spend occasion that adds even greater value to the spending power that Discovery Miles already offer to all Vitality Money, Health and Drive clients as part of the group’s shared-value rewards.

The first Discovery Miles Đ-Day took place on 15 July 2021 and Kallner shared some of the initial client insights and experiences around this now monthly offering.

• Clients spent almost double the number of Discovery Miles on the first Discovery Miles Đ-Day compared to Black Friday 2020, which was the previous record spend day.
• The Discovery Miles Đ-Day activity was approximately 8X a normal day.
• On Discovery Miles Đ-Day, 78% of purchases were made online while in-store purchases also increased, showing the convenience of using Discovery Miles. Online partners where clients spent their Discovery Miles included OneDayOnly, Takealot, Yuppiechef, Incredible Connection, Loot.co.za, Dischem, iStore and Sportsmans Warehouse.

• All Vitality retail partners had an average 57% lift in purchases on Discovery Miles Đ-Day and those who actively marketed the additional value of Discovery Miles had a 141% lift compared with Discovery Miles purchases on Black Friday in 2020.

“Vitality is at the heart of Discovery’s shared-value model and encourages positive behaviour change. From the engagement in our very first Discovery Miles Đ-Day, it is clear that our clients fully embrace the value of Discovery Miles as a rewards currency. Through this rich rewards currency, that is more valuable than cash, our clients benefit from double the Discovery Miles discount of up to 40% on the 15th of every month,” says Dinesh Govender, CEO of Vitality.

“Not only that, but our world-class Vitality partner network, which now includes Makro, also benefits from an overall rise in spend. For example, along with spending their Discovery Miles on the day, our clients supplemented their Discovery Miles with cash, which made up 50% of their payments. This further indicates the far-reaching positive value of our rewards for clients and for our partners,” added Govender, ahead of the next Discovery Miles Đ-Day on Sunday, 15 August 2021.

Discovery Miles is a rewards currency that Vitality clients earn for positive behaviour change, accepted as payment online and in store at selected retail partners. With Discovery Bank, this currency offers more value than cash because it comes with an additional value of 5% to 20% off all purchases with Miles, depending on the products that a client has with Discovery. This additional value is doubled on Discovery Miles Đ-Day, the 15^th of every month.

“We are extremely excited by the reach of Discovery Miles Đ-Day and how it really shows what shared-value banking is all about. Our first Discovery Miles Đ-Day was a tremendous success from the data and feedback we received. With Discovery Miles Đ-Day now a regular monthly feature offering clients up to 40% more value on every 15th day of each month, we are thrilled to enhance the lives of all our clients through even better tangible rewards for adopting behaviours that improve health, driving and financial wellbeing,” concludes Kallner.

For more information on Discovery Miles, please visit the Discovery website

About Discovery Bank

Discovery Bank is part of Discovery Limited, a financial services organization that operates in the healthcare, life assurance, short-term insurance, savings and investment and wellness across 27 markets. Discovery Bank is fundamentally designed differently through its shared-value model. Clients create value as they manage their money well that Discovery Bank shares back with them through better interest rates, deep discounts and significant rewards. The overall outcome is that clients experience greater financial wellbeing, it reduces the risk of defaults for Discovery Bank making the business more sustainable, and it addresses large-scale challenges, such as increased savings, that benefit society at large. Behaviour change and rewards are enabled through Vitality Money, an AI-Powered programme on the Discovery Bank app that which gives clients an understanding of behaviours that influence their financial wellbeing and how to manage their money. The better clients do, the higher their Vitality Money status and the greater the value they receive

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