This modern television advertisement shows the longevity of one of Canadian Tire's most successful reward programs, Canadian Tire Money.
If you know anything about Canadian tire then you know about Canadian Tire Money. In 1958 Canadian Tire Money was introduced in the company's gas bars to compete with various other gasoline retailers who were offering rewards to their customers. The money featured a character known as "Sandy McTire". It is said that he was a representation of the blue-collar citizens of Canada. Canadian Tire money soon became the most successful customer reward campaign in Canadian retail history.
The notes themselves are known as "Cash Bonus Coupons" and they come in 5 cents, 10 cents, 25 cents, 50 cents, 1 dollar, and 2 dollar amounts. When the program was initiated customers could receive 5% cash back in Canadian Tire Money. Now this has dropped to about 0.4%. Why do you think this is? I personally feel that the company was sacrificing too much of their profit to maintain a 5% cash bonus on every purchase made. The popularity of the program could also factor into the lower bonuses. The style of reward program is outdated. nowadays, companies have store credit cards and rechargeable purchasing cards that offer the same rewards with just a swipe.
To learn more about how the Canadian Tire Money loyalty program came to be and works visit the Canadian Tire Money section of their website.