Save $1000 on coffee costs
Reward schemes
A daily coffee is a must-have for many and chances are you are in the habit of swiping a rewards card as you order your morning flat white.
But are you really getting the best deal?
Per capita, New Zealanders are estimated to drink just under a cup of coffee a day. With a standard flat white costing about $4.50, a conservative calculation based on seven coffees a week put the average adult’s spend at $1642 a year. Those with a two-a-day, seven-days-a-week habit could be forking out as much as $3276 a year, the equivalent of a return flight to Europe (remember when that was a thing?).
Cafe loyalty schemes can offer great savings, provided you remember to swipe or scan and stay loyal to one coffee shop.
However, not all schemes are created equal.
Wild Bean Cafes at BP petrol stations offer customers their sixth coffee free. At $4.20 per cup, the annual spend, without a loyalty card, would be $1533. With the card, that comes down to $1277, a saving of $255 a year.
At The Coffee Club, a regular flat white costs $5.50 and before you can claim any kind of discount or reward, you will have to shell out another $25 to join the VIP Club. Since the VIP Club offers twofor-one hot drinks all day, every day, the annual fee could actually be money well spent if you tend to get coffee with a friend or can make light work of two brews.
Subtracting the membership fee, it is a saving of $2007 every year. Split the bill with your pal and you are each saving just over $1000.
Yes, you are spending more than you might elsewhere but you are also getting much more coffee for not much more cash.
According to 2019 research by Finder, the average coffee drinker would save about $7 a month if they committed to a loyalty scheme but could save as much as $60 a month if they switched cafes.
For the best price without a loyalty scheme, Coffix, which is in Auckland, Hamilton, Tauranga and Wellington, sells Fairtrade organic coffee in a compostable cup for the bargain price of $3. That is $1.50 less than you can reasonably expect to pay elsewhere and an annual saving of $547 before you even sign up to the buy-10-getone-free scheme.
Finder editor-in-chief Angus Kidman warned that much like a credit card or frequent flyer rewards programme, consumers should compare their options based on spending habits and personal preference.