Tesco to close ‘double-up’ voucher offer
Tesco has confirmed that it is to close its four-month-old offer of ‘double-up’ Clubcard vouchers.
Having last month started a parallel offer giving customers twice the amount of Clubcard points on in-store purchases, the UK retail giant will stop issuing its ‘double up’ vouchers after September 29. The vouchers – which offer twice the value when purchasing non-food items such as wine, cosmetics, gardening equipment or baby goods – will still be valid until December 30.
Currently Tesco customers can trade each £5 voucher in for a specific £10 voucher at the customer service desk. The vouchers can be used in-store or online at Tesco Special Rewards.
Customers are sent vouchers for the Clubcard loyalty scheme every three months. The ‘double up’ voucher offer started in May.
Tesco launched the heavily promoted Clubcard2 offer of double points in August which it is estimated will cost the retailer £400m a year. Cardholders get two points for every £1 they spend on nearly all items. One hundred points is worth £1 in reward vouchers.
Opinions have been mixed about the success of the double Clubcard points offer. Market research company Nielsen said the offer has helped to increase customer spend per visit, but data from TNS Worldpanel indicated Tesco was trailing its three main grocery rivals
Martin Lewis of financial website www.moneysavingexpert.com, commented: “It’s not surprising that, having doubled the amount of points people earn for in-store spending, Tesco has confirmed closure of a scheme that allows people to redeem goods at twice the value. The real concern is whether it chooses to close down the Clubcard Rewards scheme, which is loved by Tesco points hunters.”