Tesco has urged its 20 million Clubcard customers to redeem their rewards within the next two weeks before they are slashed from triple to double their value.
The UK’s largest supermarket announced in March that from 14 June its Clubcard points will be worth twice their value when customers redeem them, rather than triple the current value.
Awards ordered up to and including June 13 remain valid for one year from the date of issue.
The popular program allows shoppers to earn points for money spent at Tesco and redeem them for vouchers which can be redeemed in-store or on trips to places like Pizza Express, Legoland and Alton Towers.
The grocer first introduced the Clubcard in 1995 and promptly saw a 28% increase in spending.
Alessandra Bellini, Tesco Chief Customer Officer, said: “As we transform the way members can use their vouchers with our rewards partners, we would like to remind millions of club cardholders to redeem their vouchers for triple their value by 13 June, so that they can do so.” Use their Reward Partner Codes to give yourself and your families a well-deserved treat.
“We have extended the validity of redeemed codes by three times. So if they are exchanged before the deadline, they will be valid for one year instead of six months to give customers even more time to enjoy them.”
Customers expressed disappointment with the change, noting that it came at a time when the cost-of-living crisis was already putting pressure on household budgets.
One shopper wrote: “Tesco #clubcard is now only worth twice – thanks #Tesco – you genuinely care about your loyal customers – don’t. Maybe it’s time to shop elsewhere.”
A second Clubcard user wrote: “When our children were younger we were always grateful for the @Tesco Clubcard
“We use it for ourselves now and X3 is good but what an insult #X2 is to customers!”
A third wrote: “Dear @tesco, I just received your email regarding the exchange value of the Clubcard voucher which has changed to double and not triple.
“Really disappointing! Not so long ago they were worth four times as much. Aren’t you making enough profit already?”
A woman tweeted to Tesco that the club card system made me want to shop from you but now that your prices are skyrocketing and the announcement of the points changes I’ll be looking elsewhere.
“I bet a lot of people will feel the same way. It really helped all of us. “Disappointed in you Tesco,” she added.
Sainsbury’s and Boots also recently cut the value of their loyalty programs.
Since May, Boots’ Advantage Cardholders get 25% less for every £ they spend in store, earning 3p instead of 4p.
In November, Sainsbury’s Bank reduced the number of Nectar points customers could earn by 75%, from two points for every £1 spent to one point for every £2 spent.