The Beer Retirement Account demonstrates how a beer brand transformed the retirement model for shopkeepers across an entire country.

According to BANCOLDEX, in Colombia, about 500.000 shopkeepers from lower socioeconomic backgrounds have never saved for retirement, despite being a crucial sales channel, especially in the beer industry. Aware of this issue, Poker, one of the leading brands in the beer market, committed to the future well-being of shopkeepers by launching the Beer Retirement Account: an account designed to help them save for retirement, one beer at a time.

Situation

Pension systems worldwide, especially in Latin America and Colombia, are under strain. ASOFONDOS indicates that 75% of Colombians won't retire comfortably. Neighborhood shopkeepers, representative of informal workers, struggle with this reality, often choosing daily necessities over retirement savings due to scarce resources.

Brief

In Colombia, neighborhood stores dominate beer sales, presenting fierce competition. Poker faces the dual challenge of growing its market share and enhancing relationships with these vital partners. The question arises: How can Poker both deepen its ties with shopkeepers and positively influence their futures?

Objectives

Strengthen the loyalty and engagement of shopkeepers towards Poker, ensuring they felt valued beyond just transactional relationships.

Position Poker not just as a beer brand but as a proactive contributor to the socioeconomic health of its community.

Achieve a significant increase in BEES adoption among shopkeepers

Ultimately, enhance Poker’s market share and brand preference through meaningful differentiation and social impact.

The pension system in LATAM is at risk. According to Colombian Association of Pension and Severance Fund Administrators (ASOFONDOS), 75% of Colombians will not be able to retire. This affects over 500.000 shopkeepers who, due to limited resources, must prioritize their daily expenses over saving for the future.

In response to this challenging situation, Poker and AB InBev, the world's largest beer company, committed to changing the future for shopkeepers, who represent their primary sales channel. To achieve this, they transformed their BEES platform, the company's global B2B platform, allowing shopkeepers to convert accumulated points into money for their pension accounts, generating returns in collaboration with the Government and the Colombian Pension Fund (Colpensiones).

Motivated to create a sustainable solution, Poker and AB InBev discovered how a small change could significantly alter the futures of thousands of shopkeepers. This transformation of the pension system ensures that stores become enduring and appealing businesses. This commitment redefines the company's role as an agent of change, demonstrating its dedication to building a better future for the country.

In Colombia, Poker is known as "the beer that does everything for friends," a strategic positioning that has been cultivated over decades through various initiatives. However, despite its commitment to friendship and community, a vital part of its network of allies had been overlooked: the shopkeepers, older adults from lower socioeconomic backgrounds who have dedicated their lives to the informal business and often lack savings for retirement. Poker set out to strengthen its bond with these shopkeepers, demonstrating through concrete actions that it was not just a brand selling them beer, but a partner who cared as much about the future of their businesses as about their well-being in old age.

According to a study by the Territorial Development Finance Corporation (Findeter), only 25% of the population in Colombia retires. This led us to a crucial question: how many of these retirees are shopkeepers? The answer was stark: none. Further investigation revealed that many shopkeepers had never considered saving for retirement. However, we discovered that they did accumulate a significant number of points on BEES, AB InBev's global platform, where they earned points for their beer purchases and could redeem them for prizes.

In collaboration with the Colombian Pension Fund (Colpensiones), Poker decided to repurpose these BEES points, giving shopkeepers the opportunity to convert them into real money that could be deposited in their pension accounts. This initiative represents a new way for them to secure their financial future and well-being in old age.

Poker, the second best-selling beer by AB InBev in Colombia, partnered with the Colombian government and the Colombian Pension Fund (Colpensiones) to launch the Beer Retirement Account. This innovative pension scheme has transformed the future prospects of Colombian shopkeepers, who represent the cornerstone of the company's sales network. The initiative was realized through BEES, AB InBev's global B2B platform, which enables retailers to purchase beer for their businesses and earn redeemable rewards points. However, an astonishing 70% of these points went unused and expired. In response, Poker took proactive measures to empower shopkeepers by allowing them to convert their points into funds deposited into their retirement accounts. This transformative platform update has paved the way for a more dignified retirement. Currently, over 9,250 retailers are actively saving, with projections indicating that this number will exceed 30,000 by 2025.

In just 4 months, we've achieved:

+10,000 shopkeepers are already saving for retirement by selling Poker.

Poker's orders have increased by +12.5% among shopkeepers, +16% in major cities.

271.4 million BEES points redeemed for pensions.

Net savings: 480,000 USD.

+21% BEES adoption among shopkeepers

Colombian government boosted these savings with an additional 20%.

End of 2024 goal: exceed 30,000 participating shopkeepers, with a 2025 target of over 70,000—supporting the UN's Sustainable Development Goals for inclusive economic growth and decent work.

COLPENSIONES and the Colombian government have endorsed the Beer Retirement Account as a pivotal initiative set to transform the pension landscape, potentially aiding over 500,000 shopkeepers in the long term.

This initiative demonstrates to the world that the business of selling beer and the well-being of shopkeepers can grow together, positioning Poker and AB InBev as pioneers in business transformation once again.