Canadian Tire Money
Canadian Tire money is a loyalty program by Canadian Tire. It consists of coupons, issued by the company, which resemble real currency, and can be used as scrip in Canadian Tire stores, but is not considered a private currency. The notes are printed on paper similar to real Canadian currency.
CTM was introduced in 1958, and was inspired by Muriel Billes, the wife of Canadian Tire's co-founder and first president, A.J. Billes, as a response to the promotional giveaways that many gas companies offered at the time. It was only available at Canadian Tire gas bars, but was so successful that in 1961 it was extended to the retail stores as well, and has become the most successful loyalty program in Canadian retail history.The print on the 'notes' officially refers to them as cash bonus coupons.
Canadian Tire "Money" is given out for purchases paid for by cash or debit, based on the pre-tax total, excluding labour and shop supplies costs. The coupon rate earned was initially 5% of the eligible purchase price, but was subsequently lowered to 3%, then 1.4%, and now is 0.4%. Customers can use Canadian Tire Money to buy anything in the store.
Canadian Tire "Money" is given out for purchases paid for by cash or debit, based on the pre-tax total, excluding labour and shop supplies costs. The coupon rate earned was initially 5% of the eligible purchase price, but was subsequently lowered to 3%, then 1.4%, and now is 0.4%. Customers can use Canadian Tire Money to buy anything in the store.
Hi Anthony,
ReplyDeleteI have been shopping at Canadian Tire for as long as I can remember and have been collecting CTM for just as long. But I recently heard that they are considering to eliminate the program.
Have you heard or read anything about this in your research? I would hate to loose out on all that "cash"!