Cheshunt, England Tesco is making a 150-million-pound investment (or more than $227 million U.S. dollars) in its Tesco Clubcard frequent-shopper program, a move that the chain expects will attract at least 1 million more members.
Historically, Clubcard customers receive one point for every one pound they spend with Tesco, and rewards vouchers are mailed to customers every three months. Cardholders were used to spending their Clubcard vouchers at face value across the store and online. Or, they could increase the value of rewards by up to four times by trading them for a range of deals with a number of Tesco partners, including restaurants and theme parks.
As of Monday, however, Tesco Clubcard holders will be able to double the value of their earned rewards based on regular purchases made in Tesco stores and online.
During the month of May, the grocer plans to give back 105 million pounds (or approximately $159 million in U.S. dollars) to customers as a “thank you for shopping with us.”
When Tesco concludes business on Sunday, staff will work through the night to prepare the store for the re-launch, including installing new Clubcard desks where customers can exchange their vouchers for double the value in participating categories, according to a company statement.