Research from Discovery has revealed that Discovery Vitality members are expected to earn over Ð10 billion (Ð: Ðiscovery Miles) with a redemption value of R1 billion to R1.4 billion for 2024.
Ðiscovery Miles is the currency that is used to give clients rewards for positive behaviours across the integrated Health, Drive and Money behaviour-change platforms.
Discovery members earn miles by:
– purchasing healthy food
– working out
– driving
– meeting weekly exercise, drive and financial goals.
According to Discovery, in an average month, Vitality members spend Ðiscovery Miles worth more than R36 million on in-store and online purchases.
Members spent their miles on buying prepaid and digital vouchers as well as 90,000 coffees, smoothies and hot drinks. They also made 8,500 donations of Ðiscovery Miles to charities.
According to Discovery, over a year, this equals to Vitality members redeeming billions of Ðiscovery Miles to fund over one million coffees and smoothies; over 100,000 donations to charity initiatives; and over one million local and international flights.
Discovery Bank opened its virtual doors through an app in 2019 and, since January 2020, banking clients have earned more than Ð31 billion.
Dinesh Govender, CEO, Discovery Vitality said that the shift from cash-back to rewarding members for healthy behaviours in Ðiscovery Miles has allowed them to leverage the power of their rewards ecosystems, partner network and Discovery Bank to supercharge value.
Discovery’s shared-value approach shows that incentivising Vitality members for improving their health, driving and money behaviours corresponds directly with increased rewards.
The Discovery rewards programmes incentivises positive behavioural changes that improve overall wellbeing.
Members of the three Vitality programmes (Health, Drive and Money) are given a status of Blue, Bronze, Silver, Gold or Diamond.
The different statuses shows how people manage key behavioural risks that influence their physical and financial health, and driving habits.
This tiered status system also motivates members to sustain and improve behaviours across the programmes.
Hylton Kallner, CEO, Discovery Bank said: “Ðiscovery Miles is one way we drive engagement in, and reward our clients for these positive decisions.
“This is why the integration of Discovery Bank with the behaviour-change platforms makes it possible for clients to earn even more Ðiscovery Miles for multiple behaviour-change initiatives.“
IOL Business