Upmarket grocer Waitrose is today launching a campaign focusing on value for money, as the supermarket responds to Tesco’s much-publicised Big Price Drop.
Running under the tagline ‘1,000s of ways to get great value’, the marketing drive represents the biggest ever value focus for the retailer and will cover three main areas.
Essential Waitrose launched in 2009 and will provide over 1,000 great value items, while the Brand Price Match initiative offers over 1,000 everyday branded products at the same price as Tesco.
This commitment costs the retailer £19 million a year and will work in conjunction with promotions on over 1,000 products, such a buy-one-get-one-free deals.
Waitrose is the first supermarket to respond to Tesco’s supposed initiation of a ‘price war’, which saw an investment of £150 million in reducing prices of everyday products.
Following Tesco’s announcement last month, competitor Asda rejected the move as “spin”.
“No amount of spin can change the fact our price guarantee ended price wars,” said a spokesman at the time.
“Others can huff and puff as much as they like – shoppers want savings not spin; pounds in their pockets, not points on plastic.”
Rupert Thomas, Marketing Director at Waitrose, claimed that the grocer’s new campaign which starts today and runs to October 26th, and incorporates high profile TV, press, online and mobile display advertisements, was a response to consumers’ economic concerns.
“We’ve had a mammoth response to our essential Waitrose range and free online deliveries - both launched in 2009,” he explained.
“And since then we’ve been consistently building our value proposition - extending essential Waitrose in to new products and categories, launching Brand Price Match, and committing to over 1,000 products on offer or promotion each week in our shops.
“Our customers are telling us that value is now more important than ever - and they want it with no sacrifice on quality, innovation or service. It’s our biggest-ever value campaign because our position on value has never been stronger.”