The Rise and Fall of Canadian Tire Money ⇥ thestar.com

Mark Colley, Toronto Star:

For more than 60 years, Canadian Tire money staked a legitimate claim as Canada’s unofficial second currency. At one point, a study showed half the country collected it. The coupons even made the Canadian Oxford dictionary.

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Ultimately, experts speculate, Canadian Tire money fell victim to a world moving faster and smarter than ever. The coupon return on a purchase, once five per cent, depreciated to 0.4 per cent by the 2010s. Cash, at Canadian Tire and everywhere else, fell out of favour. And a digital rewards program gave the company an asset even more valuable than loyalty: data, on what and when and how often you buy.

This story yanked me right back to my childhood, finding Canadian Tire money jammed in the glove box and centre console of the family car. It was a loyalty program, sure, but one that had a unique charm and tactility that one does not get from a plastic card or by tapping their phone.