Voucher Express introduces its new product, a helpful tool for businesses to offer support to staff during the cost of living crisis. Find more information below to learn all about the innovative, new product – The VEX Supermarket Gift Card.
“The ‘Cost of Living Crisis’ is set to have a profound negative impact across our society. It’s our belief that businesses and organisations who able to do so, are instinctively looking for ways to help alleviate some of the worst financial impact felt by their employees. The new Supermarket Gift Card from Voucher Express offers a mechanism for delivering a targeted gift, aimed squarely on food and household essentials. It’s positioned as a non-condescending, ‘helping-hand’ product and we are confident of its broad appeal” -Andrew Johnson, Managing Director of Voucher Express
Rising inflation and its impact on household expenditure is affecting all UK families, even those where incomes would be regarded as being ‘above average’.
Responsible companies, who are able, are looking for meaningful and practical ways to assist their employees navigate this period. These companies are mindful that financial stress at home impacts directly on employees’ stress and performance levels at work.
Many organisations have appeared in the news recently for announcing hardship benefits to assist staff with the cost of living. With mid-tier organisations, such as Voucher Express, now adopting this initiative, too. This is most commonly done through cash values being dispensed via payroll.
Voucher Express’ clients have raised concerns about the feasibility of using cash to help their employees. Namely surrounding whether there was a direct way to ensure money issued would be spent on intended, essential items.
Consequently, we developed a product concept which could counteract these concerns, the VEX Supermarket Gift Card. A Gift Card redeemable only on essential items, such as a food and clothing.
The VEX Supermarket Gift Card is a ‘swap-out’ product issued in various formats including a physical and digital. Once received, the code can be exchanged instantly for Gift Cards from one or more of 8 participating supermarket retailers including Tesco, Sainsbury’s, Morrisons, Aldi and Asda. As it’s only redeemable at participating supermarkets, its spend is focussed on groceries, clothing and other household essentials.
The Vex Supermarket Gift Card launch comes ahead of a difficult winter for many households balancing spending against rising prices. We’ve received a great deal of early interest from a broad spectrum of clients in different business categories. All of which are, reportedly, extremely pleased with the innovative product, which offers a welcome lift for valued employees.