Supermarket price competition intensifies as Tesco offers its customers money-off coupons worth up to £10 if they could have bought their shopping for less at a rival supermarket.
Tesco has this week launched automatic price comparison coupons, which compare Tesco’s prices on branded and own label goods against those of Asda, Morrison’s and Sainsbury’s.
The introduction of Tesco Price Promise sees Tesco go head to head with Sainsbury’s, which has its own Brand Match scheme. The key difference is that Sainsbury’s Brand Match only compares the first ten branded items, whilst Tesco automatically price checks everything in a basket, branded and own label products. If a customer could have bought their goods cheaper at the three competing supermarkets, Tesco will automatically give a coupon for the price difference.
Chris Bush, UK Managing DIrector of the UK’s biggest supermarket, said “We’re the first major retailer in the UK to compare our own prices against the branded and own label prices of our competitors and to give customers an automatic coupon for the difference”.
In order to quality for the coupon, shoppers must purchase a basket with a minimum of 10 different products inside, of which at least one must be a comparable grocery item.
Previously, customers were only able to receive Price Promise coupons by logging on to the Price Promise website. Tesco also said the new Price Promise will cover promotions including ‘half price’ and ‘buy one, get one free’ offers at Tesco and other supermarkets.
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To find out how Profitero can help your business with its pricing strategy and give it the competitive edge, email sales@profitero.com today.
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