This article needs additional citations for verification. (April 2012) |
Industry | Trading stamps |
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Founded | 1958 |
Defunct | 1991 (original company) 2002 (company) |
Fate | Ceased trading |
Headquarters | United Kingdom |
Key people | Richard Tompkins and Joe Phillips Founding chairman and managing directors |
Green Shield Stamps was a British sales promotion scheme that rewarded shoppers with stamps that could be used to buy gifts from a catalogue or from any affiliated retailer. The scheme was introduced in 1958 by Richard Tompkins, who had noticed the success of the long-established Sperry & Hutchinson Green Stamps in America.
For just a few years, the scheme was so widely adopted that it was referenced in rock songs. But it suffered when Tesco ceased to use it, as part of a price-cutting policy that became standard nationwide. To retain business, Green Shield allowed customers to buy gifts from the catalogue with a mix of stamps and cash, but soon the catalogue became cash-only, and the operation was re-branded as Argos. Stamps were withdrawn altogether in 1991 and the company entered voluntary liquidation in 2002.[clarification needed]