With the reduced consumers spending which marked much of last year set to continue into 2012, some of the biggest supermarket groups have announced further initiatives to better their competitors.
Tesco, the UK’s leading retailer, dropped prices on an additional 350 products on December 29th 2011, following on from the £500 million investment in price cuts made through its Big Price Drop initiative announced in the summer.
On average prices on those selected items has been reduced 15 per cent, with Tesco claiming that on a trolley of 50 of the included items a customer can save as much as £8 from their shop.
Richard Brasher, UK CEO of Tesco, commented: “Big Price Drop is not a one-hit wonder. It is a rolling campaign to help customers save more money everyday at Tesco on the essentials they need the most.”
Sainsbury’s has confirmed that its Brand Match scheme, which sees customers rewarded coupons if their shop would have been cheaper at Tesco or Asda, will be continued into the new year.
According to its analysis, over 45 million coupons have been issued to shoppers since the offer was launched in October.
Perhaps the biggest plans unveiled by any of the big four grocers since the new year however have come from Morrisons, which has introduced a saver stamps, a slashing of prices under the title The Great British Price Crunch, and an offer which will see more than 2,000 people receive free shopping each day.
Starting yesterday and continuing daily throughout January, five shoppers at each of the grocer’s 471 stores will not have to pay for their goods, whilst all customers will be rewarded with a free £1 stamp when the reach £49 of spending and a further 2 free £1 stamps when they reach £98.
Richard Hodgson, Group Commercial Director said “We understand that 2012 is set to be a tough year for customers, so our Great British Price Crunch effectively makes the weekly shopping budget stretch further, helping families to afford everyday essentials.
“The launch of our Free Shopping gives customers the opportunity to win something which will help with their finances as well as providing some excitement during a month which can be tough.”