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Media centre /
Press releaseNS&I TO EXPAND THROUGH WHSMITH, AS CONSUMER APPETITE FOR SAVING LEAPS05 May 2008NS&I (National Savings and Investments) is to roll out its marketing of Premium Bonds and Inflation-Beating Savings to WHSmith Travel stores from 4 May 2008, following an earlier launch in 400 of WHSmith’s High Street stores across Great Britain. The move comes as NS&I research shows consumers are aspiring to save a considerably higher amount of their income, amid rising economic uncertainty. The marketing partnership between NS&I and WHSmith, which began in November 2007, will be extended to cover a number of WHSmith’s busy Travel stores. At the same time the roll-out will be supported by a marketing campaign featuring high-profile promotion in WHSmith stores, through Classic FM and web and email activity. NS&I will also add Income Bonds from 4 May 2008, helping to cater for wider investment needs and to meet the demand of savers to save more. This expansion coincides with a time when NS&I’s own Quarterly Savings Survey (QSS) suggests that consumers are increasingly concerned to increase their savings levels. The latest figures showed that last winter (2007/8) was the first winter since the QSS began in 2003 that the amount people want to set aside each month has increased, reaching one of its highest recorded levels.* In addition 6% of people questioned for the survey stated they did not have time to sort out their savings. John Prout, NS&I’s Director of Customer Sales and Retention, said: “Our partnership with WHSmith is significant in fulfilling our aim of making it simple and convenient for people to get the information they need to save. It helps to bring savings to the attention of people in their everyday lives, on their way home from work through the travel stores or when they shop on the high-street. For us, this is another proven retail channel to add to our direct telephone and online services, as well as our long-standing partnership with the Post Office.” Ian Sanders, WHSmith’s Business Development Director, said: "Working with NS&I has meant that we can serve even more of our customers’ needs, at a time when savings are very much on their mind.” How the partnership works The partnership will enable WHSmith customers to pick up brochures for three of NS&I's leading products at most WHSmith stores. Customers will be able to invest in these products online or through NS&I’s award-winning UK telephone service. NS&I chose WHSmith to market its products to make it easy and convenient for people to save and invest while shopping at these stores. It works by making the most of WHSmith’s proven retail experience, in-store marketing opportunities and access to just over 1.2 million people who visit a WHSmith High Street store every day of the year. ENDS * The amount people wanted to save a month rose to £185.76 in winter 2007/8, up from £180.91 in autumn 2007. National Savings and Investments NS&I, established in 1861, is a Government department and an executive agency of the Chancellor of the Exchequer. It offers a range of savings products through a network of over 13,500 Post Office branches, over the telephone, internet, post and by standing order. It has 28 million customers and £83 billion funds invested. All products offer 100% security because they are backed by HM Treasury. WHSmith WHSmith PLC is made up of over 540 High Street stores and over 430 Travel units in airports, rail stations and motorway service areas. The High Street business sells a wide range of newspapers, magazines, stationery, books and entertainment products, while WHSmith Travel sells a tailored range of newspapers, magazines, books and confectionery products for people on the move. In addition, WHSmith direct- www.whsmith.co.uk serves customers on the internet 24 hours a day. Premium Bonds NS&I’s flagship product is Premium Bonds. With a customer base of 23 million people, not far short of half the adult population of the UK own Premium Bonds, and the total sum invested is more than £36 billion. The current prize fund rate is a tax-free 3.40%p.a. Inflation-beating Index-linked Savings Certificates Index-linked Savings Certificates were launched in 1975 and provide a tax-free return guaranteed to beat inflation as measured by the Retail Prices Index (RPI). They are currently available in three and five year terms. The current rates are: 3-year (16th Issue) 0.25% plus RPI and 5-year (43rd Issue) 0.35% plus RPI, guaranteed compound when held for the full term. Income Bonds Income Bonds provide a monthly income at variable rates, with the invested sum available to be withdrawn whenever it is needed without notice and no penalty charges. The income is taxable, and is currently paid gross at 4.45% p.a. under £25,000 and 4.70% above £25,000. The origin of the partnership with WHSmith The deal was signed on 10 August 2007 after a process to seek out, establish and maintain distribution partnerships with a wide range of organisations across a variety of sectors, including supermarkets, member organisations and high street retailers. The procurement began in August 2004, when NS&I issued a request for proposal through the Official Journal of the European Union. As a government department, NS&I is required to operate a strict procurement process. The notice in the Official Journal of the European Union also stated that NS&I would seek to partner with just one organisation in a number of different retail sectors. The notice attracted significant interest from many types of organisations, including WHSmith. At this stage, NS&I has chosen the high street retail sector in which to establish this deal. During 2007, NS&I reviewed all proposals from the high street sector and, in early August, NS&I’s Board made the decision to seek a marketing partnership contract with WHSmith.
Media team The numbers below are for media use only. Customers wishing to contact NS&I can find details here.
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