Coles has fired the latest shot in the war to win over customers, promising hundreds of dollars in savings with a revamped loyalty scheme.

The supermarket is sending out millions of new FlyBuys cards, which it claims offers 50 per cent better value.

Under the new scheme led by English Comedian Dawn French, customers can earn one point for every dollar they spend.

There are also new affiliations plus an opportunity for customers to individually choose their favourite five items for discount.

Coles spokesman Simon McDowell said: "We reckon it's about $200 a year just on FlyBuys, and if you add everything else it's about $400 a year for an average Aussie family."

For more information about the new FlyBuys scheme, simply follow the link