Beer retirement account, used BEES, AB Inbev's global B2B platform, where shopkeepers buy beer for their businesses and get points that can be redeemed for rewards. Through a strategic partnership with the government and the Colombian Pension Fund (Colpensiones), we transformed the business model we had with the shopkeepers, converting BEES points into money they could save in their retirement accounts. Essentially, every beer purchase contributed to their pension savings. This initiative motivated shopkeepers to stock Poker in their stores, boosting ABinBev's business while improving Shopkeepers future as well.

According to the National Administrative Department of Statistics (DANE), only 18% of Colombians have access to a full pension, mainly due to the lack of formal employment. This reality is evident among Shopkeepers, who are the most important business channel for Poker, an Ab InBev beer brand in Colombia. Saving for retirement is not a priority for them because they must prioritize daily expenses like their families' food and their businesses' rent.

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.

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.

Our strategy was to create a new way of helping small store owners retire by doing what they do best: selling beer. The Beer Retirement Account aimed to increase AB InBev’s sales while also boosting the number of retired store owners in a country where only 25% of the population receives a pension, according to the Financial Development Authority (Findeter). This was all facilitated through BEES, a platform already familiar to corner shops owners aged 40 to 60 from lower socioeconomic backgrounds. In terms of reputation, AB InBev established itself not just as a company that sells beer, but as one investing in the future of its most important partners, transforming their stores into sustainable, appealing businesses with a promising future.

Beer Retirement Account operates exclusively on BEES, AB InBev's B2B platform, where shopkeepers purchase Poker beer for their business.

We handpicked the top-selling store owners on the BEES platform and invited them to enroll. We then developed training sessions and tutorials to teach corner shop owners how to convert their BEES points into retirement savings.

We launched the initiative through push notifications on the BEES app, supplemented by in-store communication materials targeted at them and posts on Poker's social media channels.

In the third quarter of 2023, we identified and informed store owners about the initiative. On December 1st, we launched the Beer Retirement Account on the BEES platform. We currently have 10,000 shopkeepers saving for their pensions, and we expect this number to continue to grow.

The Beer Retirement Account was piloted with 10,000 store owners across Colombia. We anticipate more corner shop owners joining in the coming months.

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.

Poker beer, branded as "the beer that does everything for friends," deeply embeds friendship and support into its core values. This brand purpose drove the creation of the Beer Retirement Account, specifically designed to address and support the crucial community role played by shopkeepers in Colombia. Understanding that these shopkeepers often lack formal financial support systems, and recognizing their importance as both friends and business partners, Poker aimed to enhance their financial security and well-being. The initiative allows shopkeepers to convert sales-related rewards into tangible pension savings, directly impacting their future quality of life. This strategic move not only reinforces Poker's commitment to its community but also demonstrates how commercial activities can be leveraged for significant social impact. The Beer Retirement Account stands as a testament to the brand's ethos of nurturing lasting relationships and ensuring that every interaction is laden with purpose and mutual benefit.