SINGAPORE - From Thursday, consumers can join a new rewards programme to earn points when they shop at more than 1,000 places, including household names such as Cold Storage, Toast Box and Singtel.
The yuu Rewards Club is being launched by Temasek tech venture minden.ai and its strategic partner DFI Retail Group – the company behind Cold Storage, Giant and 7-Eleven – together with brands such as BreadTalk Group, DBS Bank, PAssion Card and Mandai Wildlife Group.
Through the coalition loyalty programme, consumers can enjoy greater convenience and flexibility as they can earn and accumulate points at a faster pace from yuu partner brands. With the points, they can redeem deals, offers, and rewards from any retailer in the network. Consumers can also choose to use 200 yuu points to offset $1 on purchases.
“For example, points earned at Cold Storage can be redeemed for rewards at Mandai, Singtel or BreadTalk,” said minden.ai CEO Sng Ren Yeong at a press briefing announcing the rewards programme.
To join, consumers need to download the yuu app and register for an account. They can then have their yuu QR code scanned by the cashier or at a self-checkout kiosk before paying for their purchases at participating merchants, including CS Fresh, Guardian Health & Beauty, Toast Box, Butter Bean, Food Junction, Food Republic, Food Opera and Thye Moh Chan.
Yuu members earn one point for every dollar spent. They can also accumulate point multipliers for selected products. For example, at Giant, members can earn an additional bonus point for every dollar they spend on fresh vegetables and fruits.
In conjunction with the launch of the rewards programme, DBS Bank has released a new co-branded credit card, the DBS yuu card, to help members accumulate points at a faster rate. Users can earn up to 30 times the points when they pay using the card.
Those with a PAssion card or PAssion POSB debit card can also link their cards to the platform. During the launch promotion period, debit card holders will be able to earn up to 16 times the points when they pay using the card.
A study commissioned by minden.ai in late August involving 1,000 respondents found that the majority of Singaporeans are worried about the current economic climate, and 68 per cent have scaled back on spending due to rising prices. About 60 per cent are also looking to join loyalty or rewards programmes to save money.
“Over the longer term, we hope to use technology to bridge online-offline interaction for consumers,” said Mr Sng, adding that the platform helps consumers save on expenses for daily necessities.
“We are happy to do our part to help consumers stretch their dollar to offset some of the inflationary pressures that they face in today’s environment,” said Mr Sng.
