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More from News
- Discount will be deducted at the till
- Price match is for branded products only and valid when shoppers buy ten different branded items
- Shoppers won't have to keep hold of vouchers
Tesco has launched a new price match promise, pledging to give customers an immediate discount on thousands of branded items if they could have shopped for cheaper elsewhere.
The struggling supermarket will now compare the cost of branded items against Asda, Morrisons and Sainsbury’s prices – if the shop would have been cheaper customers will automatically get the difference deducted from their bill.
For the price match to kick in shoppers must buy at least ten different branded product, including at least one comparable item.
It applies to shopping in store and online – but if you order online or use click and collect the comparison will take place on collection or delivery.
Tesco has launched a new price guarantee to give shoppers a discount at the tills if their shopping would have been cheaper at Asda, Sainsbury's or Morrisons.
Branded products will be price-matched even if they are on special offer at another supermarket.
Rival Sainsbury’s has a similar price guarantee but it requires shoppers to collect a coupon for the difference if the shopping would have been cheaper compared to Asda, which can then be used on their next shop.
Tesco operated a similar voucher system until its immediate discount pledge was launched this morning.
Last week Morrisons announced it is revamping its Match&More scheme last week – ditching its price match policy where shoppers spending over £15 could earn points if their shopping would have been cheaper at Tesco, Sainsbury’s, Asda, Aldi or Lidl.
From November Morrisons shoppers can continue to earn points for shopping, getting five loyalty points for every £1 spent, on anything over £1.
Shoppers must earn 5,000 points to get a £5 voucher, which means shoppers must spend £1,000 before they have collected enough points for a £5 voucher.
The move by Tesco is seen as the latest attempt to demonstrate its low-cost credentials in the battle for market share, which has heated up in recent years due to the rising popularity of Aldi and Lidl.
However it is still not price matching its low-cost German rivals.
Sarah Willingham, personal finance expert, said: ‘Price matching has become far too complicated for shoppers. What they want is simplicity.
‘We’ve all been there – you rush out of the house to do your shopping, you’re trying to remember your bags, your list, find your car keys. You get to the supermarket checkout only to realise you’ve left your voucher on the kitchen table.
‘Worse still, you find a voucher in your wallet only to find it has expired and you’ve lost out. Instant money off at the checkout means no more hassle and a win for shoppers. Anything that adds value to the consumer with no extra effort required is a great thing.’
Feedback: Tesco says it has revamped it price guarantee after speaking to customers.
Tesco said that it has relaunched its price guarantee as a direct result of feedback from its customers.
It claims that 48 per cent of shoppers forget to use vouchers, while 16 per cent they lose them before being able to use them.
Matt Davies, chief executive of Tesco UK and Ireland, said: ‘Shoppers tell us price matching vouchers are a pain and don’t really help them. We all know it can be stressful and awkward when you have to rummage through your wallet to find a price match voucher.
‘That’s why we’re ensuring that with Brand Guarantee customers will never lose out on their branded shop by getting money off their bill at the till.’
Tesco has rolled out the scheme nationwide after trialling the service in Northern Ireland over the last few weeks.