The Co-operative reports saving stamps revival as sales soar by 40%
The Co-operative Food says it has seen an upsurge in customers purchasing saving stamps in order to help spread the cost of Christmas.
Almost a year after The Co-operative launched its saving stamps trust fund, sales have soared by 40%.
The trust fund was set up in response to the collapse of the Farepak Christmas Club in 2006, when nearly 120,000 people lost on average £400 each. The Co-operative worked closely with representatives of the Farepak Victims Committee when establishing the trust and provides extra security for its customers’ saving stamps by protecting funds in a trust fund, which is managed by an independent trustee.
Andrew Mann, customer director for The Co-operative Food, said: “As a responsible retailer, we are keen to help make Christmas more affordable for our customers, and our saving stamps scheme is a great way for shoppers to spread the cost of Christmas over the year.”
As an extra incentive, this month The Co-operative Food is giving customers £50 when they redeem a full saving stamps book with £48 worth of stamps.
