The month-long promotion, which lets customers change £5 of Clubcard vouchers into a £10 exchange token, has kicked off today (Monday 14 May). The vouchers can be spent on across departments such as clothing, toys and electricals until June 19.
To push the voucher scheme, the supermarket has launched a TV and radio campaign, starting today and running until May 20. The activity features a young boy carrying out housework in exchange for pocket money. Instead of asking for his £5 pocket money he points to £5 Clubcard voucher, knowing that it can be changed into a £10 token.
Janet Smith, Tesco Clubcard director, says: “The Clubcard Exchange is incredibly popular with our customers. By increasing the value of Clubcard vouchers, it makes a real difference and makes budgets go further by offering huge savings on a fantastic range of products.”
The reprise of the promotion comes a month after the retailer said it would invest £1bn in improving stores, customer experience, promotion and pricing strategy and own-label ranges.
Tesco has pledged to invest millions in making its marketing “better, clearer and more relevant”, one of several initiatives the supermarket has announced to improve the fortunes of its UK business as sales slipped again and profits dropped 1% to £2.5bn for the year ending 25 February.