Co-op could replace stamps with electronic card or app
THE Channel Islands Co-operative Society could replace its loyalty stamp scheme with an electronic system under modernisation plans, its chief operating officer has said.
The society currently offers its members return profits in the form of dividend stamps on certain days of the week.
Members of the supermarket chain are given a share account with a number they use when making a purchase.
Shareholders receive 4% of the value of their shopping back and, on Tuesdays, Wednesdays and other promotional days throughout the year, a further 4% in loyalty stamps.
The dividend value is automatically calculated during the trading year and members can draw the dividend out as cash, leave it in their account to gain interest or have it paid as shopping vouchers at the end of the year.
The stamps themselves can also be exchanged for cash or spent in-store.
But the paper stamps could be discontinued as plans to make changes to the retail system are due to begin in August.
'It is likely in the future that we will create a more modern solution that could be to create an electronic card or app,' said chief operating officer Mark Cox.
