Oldies who register for a new Saga membership deal will get to see Paris in concert at St. Paul’s Cathedral, watch the Gruffalo with their grandchildren in the West End, or get exclusive tickets to visit the National Maritime Museum.
As they attempt to attract customers amidst City concerns of declining momentum, the company introduced a project aimed at fending off strong competition for the grey pound. The new scheme is called Saga Possibilities.
Saga is also teaming up with other companies such as Nuffield Health and Majestic Wine. It will be making use of the insurer’s buying power to grant cheap deals.
“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,” Chief executive Lance Batchelor said.
As part of the new project, it obtained Spirit of Adventure, a second new cruise ship that is for delivery by August 2020.
Today, Saga revealed a 6.3 percent decrease in half-year profits to £103 million.
Also, in the half-year to July at 477,000, there was a 1 percent decline in high-affinity customers, the consumers who spend £1,900 or more.
Batchelor announced that Possibilities offers it a ‘more powerful toolkit’ to compensate high spenders.
There was one more increase in the division, by 11 percent to 3p. In 2016, dividends have been worth £65 to the small common shareholder — 12 percent of the shares are held by customers.
“They are not affected by pay rises or government freezes on pay,” stated Batchelor. He thinks that his customers are more flexible to the consumer downturn.