Tesco Gives Clubcard Holders £67 Million Christmas Present
Tesco has announced the prepayment of nearly £67 million in customer loyalty rewards to Tesco Clubcard holders, making the rewards available nearly ten weeks in advance as it seeks to ensure and boost customer spending in the crucial Christmas shopping season.
Tesco announced on Tuesday that it would be sending its February 2010 Clubcard statement nearly ten weeks ahead of schedule, so that shoppers could use their cash equivalent vouchers to finance their Christmas shopping.
This is the first time the retailer has sent out its reward points early, with vouchers usually only being sent four times a year, in February, May, August and November.
Richard Brasher, Tesco’s commercial director, said: “This seasonal surprise is to help customers at a time when we know they will appreciate it most. We know that this year mums are taking tight control of family budgets and they are looking for treats, not extravagance.”
Mr. Brasher also said that consumers could decide whether to use their vouchers for extra Christmas shopping, or hold on to them until they receive their next statement, which will be sent as normal in February.
Tesco says its decision to prepay its loyalty points was made possible by the introduction of double points on its Clubcard loyalty program back in August, which has resulted in shoppers using their cards more frequently and earning vouchers at double the rate they did in the previous year.
Tesco says that £529 million in vouchers had been issued to its customers this year.
Please Note - All Prices Quoted Are Correct at Time of Posting
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