Supermarket giant Tesco is set to launch a voucher-at-till price matching initiative as it seeks to offer everyday items at a cheaper rate than competitors, it has been reported today.
An extension of the grocer’s Price Promise programme, the promotion, expected to begin next week, compares branded and own-branded products with big four supermarkets Asda, Sainsbury’s and Morrisons and reimburses shoppers at the till if their goods would have been cheaper elsewhere.
Following a successful trial at its stores across Northern Ireland, the roll-out allows shoppers to redeem vouchers worth up to £10 in its stores at check-out or online.
While Tesco already has a price comparison scheme in place to assess its pricing compared with rivals, the latest roll-out aims to improve the grocer’s positioning within a crowded market following data from Kantar Worldpanel last week which revealed its share had fallen 0.4 per cent to 29.7 per cent in the four weeks ending February 17th 2013.
Offering discounts and promotions is an increasingly popular strategy with leading grocers following the introduction of Tesco’s Big Price Drop in 2011, which sought to offer reductions on thousands of products as consumers continued to struggle financially amid economic gloom.
Commenting on the initiative, a Tesco spokesperson said: “We’re continually looking for new ways to help our customers keep the cost of their shopping down.”