HSBC credit cards enjoy high 20% increase in seasonal spend

HSBC’s recent seasonal promotion ‘redefining your expectations’ that ran throughout November and December 2012, has been a phenomenal success attributing to an increase in retail spending across categories most traditionally associated with the season such as dining, retail shopping, fuel and supermarkets.  

HSBC Customer Value Management Head James Rebert (left)alongside some of the winners of Samsung Galaxy S3 mobiles: R.M. Imthiyaz, Randy Seneviratne and Dhanushka

An increase of 20% was recorded in overall credit card spend and was said to be the highest in recent years, surpassing all previous targets, according to HSBC.

This was aided by a plethora of merchants who partnered the Bank during the seasonal program with valuable offers, in celebration of the festive season.

The promotion entitled all HSBC cardholders to seasonal discounts that ranged from 20% to 70% on daily essentials, retail, fuel, dining, travel and lodging, household electronics and furniture, with daily deals and super weekends during every weekend leading up to Christmas.  

Cardholders were further benefited with a saving of Rs. 10 on each litre of fuel pumped during 4:00 p.m. to 6:00 p.m. every Wednesday, at all fuel stations island-wide.

Aside from the everyday shopping offers, the cohesive ‘redefining your expectations’ program effectively engaged retailers and consumers alike with a host of in-store and outdoor activities as well as online and on air promotions.  

As such, HSBC together with Yes FM rewarded a number of callers with Galaxy S3 mobile phones each time they participated in daily draws during HSBC sponsored Santa updates.

“The seasonal campaign was a huge success with our strongest performing categories being fuel, dining, supermarket and retail generating the highest spend and indicating customers were shopping for necessities rather than discretionary items.

“We are happy to have worked with a large network of merchants to offer customers affordability during a high spending season and increase the momentum of holiday shopping.

“The promotion has been a win-win for both our customers and merchants with some retailers reporting more than double their normal sales.” Retail Banking and Wealth Management Head Nilantha Bastian commented.

He further added, “We are happy to end 2012 on a positive note and look forward to introducing new campaigns in the coming months that will further benefit all our stakeholders and further increase the value of HSBC credit cards.”

The seasonal promotion no doubt garnered much response from customers who enjoyed their holiday shopping experience with discounts at a wide variety of stores around the country.