Tesco to slash the value of Clubcard points from the summer

From June 14, Clubcard points will only be worth twice their value when customers cash them in, as opposed to the three times they are now.

In a message to customers, Tesco chief customer officer Alessandra Bellini said the move would “make sure we can continue to provide you with a wide range of exciting rewards, whilst keeping our product prices low”.

She also said Tesco would be extending the time period that Clubcard rewards would be valid for up to a year, rather than six months, in order for shoppers to use points at their higher value when the changes come into force.

Tesco launched Clubcard in 1995 and reported a 28% increase in spending as a result. 

The move follows similar announcements recently by Sainsbury’s and Boots.

From May, Boots Advantage Card holders will receive 25% less for every £1 they spend in-store, earning 3p rather than 4p.

In November, Sainsbury’s Bank cut the number of Nectar points customers could earn by 75%, from two for every £1 spent to one for every £2.

Many shoppers have expressed their disappointment at the move on social media, with some customers on Twitter going so far as to say the move would lead them to switch to a different supermarket as a result.

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