Slump sees 'saving stamps revival'

union jack piggy bankSaving stamps are enjoying a massive revival, as careful shoppers squirrel their cash away to prepare for Christmas.

The Co-operative said purchases of its stamps, which can be used to buy food in its stores, are already up 50% on last year - meaning a bumper £2.5 million of them are due to be cashed in.
Throughout 2010, £1.7 million was spent on the saving stamps, the supermarket chain added.

Shoppers who redeem the stamps in December receive £2 free for every £48 they have managed to put away.

Households have been squeezed by a rising cost of living, while struggling to find savings accounts which will give them a real return on their money.

Sean Toal, acting chief executive for Co-operative Food, said the scheme helps customers enjoy Christmas but still "keep a grip on the purse strings".

© 2011 Press Associatio
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