NS&I to expand through WHSmith, as consumer appetite for saving leaps

Released on: May 28, 2008, 2:08 am

Press Release Author: National Savings and Investments

Industry: Financial

Press Release Summary: WHSmith Travel stores to market premium bonds and savings accounts from government-backed NS&I

Press Release Body: NS&I (National Savings and Investments) is rolling out its marketing of Premium Bonds and Inflation-Beating Savings to WHSmith Travel stores, 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 is being supported by a marketing campaign featuring high-profile promotions in WHSmith stores, through Classic FM and web and email activity. NS&I has also added Income Bonds, helping to cater for wider investment needs and to meet the demands of savers wanting 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 into cash isas and other savings accounts 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.

About NS&I:
NS&I is one of the UK's largest financial providers with 28 million customers and over £83 billion invested. It is best known for Premium Bonds, but also offers High Income Bonds, ISA accounts, Guaranteed Equity Bonds and Children's Bonus Bonds in its range. All products are backed by HM Treasury and offer 100% security.

NS&I products are available over the telephone, internet, post and by standing order. They are also available through a network of 14,000 UK Post Office branches. Customers can also pick up brochures for Premium Bonds and Inflation-Beating Savings products at retailer WHSmith in 400 of its High Street stores.

Web Site: http://www.nsandi.com/

Contact Details: NS&I PR Contact:
Gill Stephens
National Savings and Investments
375 Kensington High Street
London
W14 8SD
020 7348 9449
www.nsandi.com