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X5 Retail Group Introduces Russia's First Insurance Co-Brand

Published on Aug 23 2018 8:00 AM in Retail tagged: Russia / X5 Retail Group / Perekrestok

X5 Retail Group Introduces Russia's First Insurance Co-Brand

Russia's X5 Retail Group has announced that it has partnered with Renaissance Life, a Russian insurance company, to introduce a new loyalty programme.

In addition to loyalty points, the 'Generous Life' programme will transfer a part of customers' expenditure to an endowment insurance programme.

It is the first insurance co-brand in the Russian retail sector.

The ten-year programme will be extended to customers of Perekrestok supermarkets, and will be an add-on to the existing Perekrestok Club loyalty programme.

The head of marketing at Perekrestok, Dmitry Medvedev said that the initiative is "a major new direction in the development of Perekrestok's loyalty programme. [...] Our frequent customers that participate in the programme can continue making purchases in our supermarkets, while also accumulating significant savings for the future."

Customers can either opt for a plastic card or a virtual one, accessible through the Perekrestok mobile app.

Discounts And Offers

The new programme will offer customers a 7% cashback on all purchases and a 100% cashback for buying Perekrestok private label bottled water.

To be eligible for the programme, customers need to save at least RUB 1,000 (€12.75) per month. 

Statistics from the first several weeks after the launch of the loyalty programme revealed that this amounts to making purchases between RUB 5,000 (€63.5) to RUB 6,000 (€76) per month.

Customers also have the option to deposit the amount through the mobile app.

Members are also provided a a three-month grace period, during which the programme continues even if no purchases are made.

 

© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Matthieu Chassain. Click subscribe to sign up to ESM: European Supermarket Magazine.

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