The Channel Islands Co-op is ending the 1% loyalty bonus it introduced to replace double dividend stamps during the pandemic.
The retailer stopped issuing the stamps in 2020 at the height of the Covid-19 pandemic.
For years they had been given to shoppers on Tuesdays and Wednesdays - 'Double Dividend' days - so that they got 8% back on their spend instead of the usual 4%.
The stamps were replaced by a 1% bonus on all sales, every day of the week, paid directly to members' share account.
In June 2021, the Co-op announced the stamps would not be making a return, and said an exciting replacement was planned.
Any stamps customers have previously collected could be spent in stores until close of business on 31 December 2022. They have now expired.
In an email to customers ahead of the new year, the Co-op revealed the imminent end of the 1% bonus.
"In 2023 we will be introducing several changes to our loyalty offering, the 1% loyalty bonus will end, but rest assured our core 4% annual dividend scheme will remain unchanged.
The 1% loyalty bonus was a temporary measure, brought in during the Covid-19 pandemic as an alternative to the Coop stamps programme, and as we continue to strive to provide the best possible rewards for Members, the 1% will be replaced with something bigger, and better!"
The retailer has not yet shared any more details of its new loyalty scheme.
However, speaking to us in 2021, CEO Mark Cox said he hoped to launch an app that would enable customers to keep track of what is in their share account:
"Our preference is to take it digital, but we recognise some members might struggle with that technology so we are looking at (both) a loyalty card. A lot of our members are saying they don't want to be carrying loyalty cards around. They want to be able to hold this on their phone or devices."
The Society said it was investing more than £1 million into new retail technology.
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