FT Website states:
Tesco is to beef up its Clubcard loyalty scheme as Britain's biggest retailer fights to close the gap on faster growing supermarket rivals.
From Monday, the more than 15m holders of a Tesco Clubcard will receive double the current level of points on all purchases across the store.
The move extends the first phase of the relaunch which begun in May , and allowed customers to trade in Clubcard vouchers for offers in store that enabled them to double their value on certain goods, in categories such as health and beauty and clothes.
Carolyn Bradley, UK marketing director, said offering double points across the store would mean the cost of beefing up the Clubcard would be more than the £150m it disclosed in May, although she refused to give an exact figure.
Jonathan Pritchard, analyst at Oriel Securities, put the cost at about £400m, but Ms Bradley said this was too high. Analysts at Deutsche Bank estimated the cost at about £200m a year.
Tesco's sales growth is lagging behind those of main rivals Asda, J Sainsbury and Wm Morrison.