Tesco has finally revealed details of its new Clubcard Plus loyalty scheme, which it insists could save customers over £400 a year, even though it comes with a £7.99 monthly subscription charge.
Due to be launched on November 8, the scheme will give 10% off two big shops worth up to £200 each, every month, plus 10% off F&F, Fred & Flo, Go Cook, Fox & Ivy, Tesco Pet and Carousel all year round, and double data for new and existing Tesco Mobile customers.
Shoppers will also be able to apply for a Tesco Bank credit card with no foreign exchange fees from next year. However, the scheme is only available via the Clubcard app as customers will need to scan a digital barcode at the till every time they make a purchase.
Tesco insists that the discount on two big shops means shoppers can save £480 a year, but that is excluding the annual £95.88 subscription cost – meaning the actual saving is £384.12.
In an effort to increase loyalty, to get £40 off food each month customers must spend £200 per shop or £400 a month in total, which is the maximum amount allowed under the offer, in two separate shops each month.
In order to break even and cover the cost of the subscription, customers will have to spend at least £79.90 at Tesco a month over two shops – or £40 twice a month, every month.
Shoppers will still be able to get one point for every pound they spend and can continue to redeem them for money-off vouchers to spend either on their groceries or redeem with Tesco’s 150 Clubcard partners.
A spokesperson for Tesco said: “Taking into account the monthly subscription cost, customers who are taking advantage of the benefits could save over £400.
“We know that our customers are always looking for ways to make their money go further. That’s why we’re launching Clubcard Plus – so that they can get better value on the products and services that matter most to them, throughout the whole year.”
Plans for a scheme to offer greater incentives to customers to sign up to bank and mobile phone services were first leaked to the Sunday Times in April, which claimed that the supermarket giant was considering an Amazon Prime-style subscription service.
Not that everyone is convinced. When the subscription scheme was first confirmed earlier this month, many shoppers branded it a “con”.
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