Yahoo Finance Saga soups up its service to offer members London tickets
Oldies who sign up to a new Saga membership deal get exclusive tickets to visit the National Maritime Museum, see Mica Paris in concert at St Paul’s Cathedral, or watch The Gruffalo with their grandchildren in the West End.
In a bid to woo customers amid City concerns of falling momentum, it today launched Saga Possibilities, a scheme aimed at fending off stiff competition for the grey pound.
Saga is also linking up with Nuffield Health and Majestic Wine, among others, using the insurer’s buying power to offer cheap deals.
Chief executive Lance Batchelor said: “Until now we have been a transactional business that sells stuff. Now, if you become a member, we will give you access to a whole bunch of events and experiences.”
As part of that it has ordered a second new cruise ship called Spirit of Adventure, for delivery in August 2020.
Today Saga reported a 6.3% fall in half-year profits to £103 million.
There was a 1% drop in high-affinity customers, or those who spend £1,900 or more, in the half-year to July at 477,000.
Batchelor said Possibilities gives it a ‘more powerful toolkit’ to reward high spenders.
There was another increase in the divi, by 11% to 3p. In the last year, dividends have been worth £65 to the average small shareholder — 12% of shares are held by customers.
Batchelor thinks his customers are more resilient to the consumer downturn. “They are not affected by pay rises or government freezes on pay,” he said.
