In this episode of Future Proof Mzansi, hosts Natalie and Sena discuss how South Africans are finding creative ways to make their money go further, particularly in light of rising costs of living. They explore the concept of 'value hacking' where consumers seek to maximise value from brands through rewards programmes and strategic spending. They’re joined by Kelly Goldsworthy, Head of Live Better Rewards at Capitec and Renissa Gounden, Director at Kantar, to discuss how brands can adapt to changing consumer needs. The delve into the importance of data-driven decision-making, and the shift from traditional loyalty programmes to offering meaningful value through brand collaborations and ecosystems. The episode highlights innovative approaches by brands like Capitec and emphasises the need to remain relevant and responsive to consumer demands.
Chapters
06:29 - Understanding South African income dynamics
07:45 - Creative spending adjustments
11:04 - The toolbox of value hacking
12:52 - Capitec's Role in Value Hacking
15:25 - Trends in saving, spending and using loyalty cards
18:35 - Choosing brand collaborations
21:03 - Leveraging technology and gamification
23:58 - The evolution from loyalty to rewards
26:05 - Advice for brands on how to stay in a consumer’s repertoire
28:25 - Surprising insights in the rewards space
32:03 - Final thoughts and brand recommendations
* This episode was produced Laura Rapson