’The Big Clubcard Voucher Exchange’ is a five-week promotion which the supermarket says will see almost 16 million customers receive £140m in rewards.
Last year’s August mailing was worth £101m.
For every £5 in Clubcard vouchers, customers can opt to exchange them for a £10 rewards token to spend on a range of products.
TV adverts promoting the scheme will run throughout August. One is a 30 second ’Back to School’ ad, featuring Mark Addy and Fay Ripley, which highlights the benefits of exchanging Clubcard vouchers to buy school uniforms.
There is also a shorter 10 second ad which highlights that Clubcard Exchange is also available on many other categories including toys, clothing, nappies and homeware.
Customers will receive a booklet with their statement to explain how to use The Big Clubcard Voucher Exchange.
Customers who have saved their Clubcard vouchers from previous statements can use these to take part in the scheme also. This means those that have the odd voucher to still spend or have been collecting for big ticket items will get an unexpected bonus.
The Big Exchange will last for five weeks up to 5 September 2010.
There are over 15 million active Clubcard holders in the UK, including a million since its relaunch last year.
Tesco says there are now 18% more households redeeming Clubcard vouchers than last year following a strong push to drive its loyalty programme by offering double points, better offers and the Clubcard iPhone app.