When inflation comes to loyalty points
ClubCard wasn’t Tesco’s first loyalty points system. In 1963, the grocer signed on to a loyalty scheme called Green Shield Stamps. The introduction of these loyalty points was so momentous that thousands descended upon the shops when they were launched, and a dozen people fainted. It was a big deal.
A newspaper excerpt at the time:
— Humby, Clive; Hunt, Terry; Phillips, Tim. Scoring Points (p. 44). Kogan Page. Kindle Edition.
Here’s how the system worked: Shoppers received a number of stamps proportional to the amount they spent at the supermarket. They collected the stamps in a booklet, which when filled, could be exchanged for products from a catalogue.