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.
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“They made the market as price competitive as it is, it should have been obvious it wasn’t a sustainable business model.”
In a separate development, Tesco is under renewed pressure over its £263 million accounting scandal after a group of American pension and investment funds launched a multimillion-dollar legal action against it. The complaint, filed in Ohio’s federal southern district court on Wednesday, has been brought by Western & Southern Life Insurance Company, Western & Southern Financial Group, Integrity Life Insurance and Touchstone Strategic Trust.
“Additionally, the price perception of Tesco may by default improve as the plethora of coupons will not be telling its customers just how expensive it is”.
British shoppers know that the limited assortment discounters [Aldi and Lidl] are cheaper than the superstores and to focus only on matching prices of the Big Four is simply myopic to our minds.
However, Tesco has dropped own-label goods from its price-matching scheme. What they want is simplicity. 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”, said personal finance expert Sarah Willingham. Anything that adds value to the consumer with no extra effort required is a great thing’. It also showed that 48% of supermarket shoppers cited the main reason for this as the fact they forget to use the vouchers, while 16% of shoppers said they lose vouchers before they can claim their savings. 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 auto keys.
Tesco’s Brand Guarantee will enable customers to receive money off their bill at the checkout – both in person and online – if the overall cost of their branded grocery shop would have been less at Asda, Morrisons or Sainsbury’s.
Tesco United Kingdom and Ireland ceo Matt Davies said this brand guarantee replaced price matching vouchers, which shoppers had described as “a pain” and unhelpful.
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The initiative has already been trialled in Northern Ireland over the last few weeks, with positive feedback from both colleagues and customers.
