Tesco commits to cutting prices on dozens more popular products to be introduced in stores over the next two weeks
Tesco announced today that it will end its Brand Guarantee scheme on 16 July 2018, as it continues to invest in lower prices for customers at the shelf edge.
The Brand Guarantee scheme offered customers a price match on branded goods when they bought 10 or more items (including at least one eligible branded product) in larger stores or online, with the difference refunded at the checkout.
As a result of its continued investment in simpler, lower everyday prices, fewer than one in eight transactions receives any refund at all. At the same time, a majority of customers have expressed that they would prefer lower everyday prices instead.
In the last month, the brand has already cut the price of over 260 everyday products, with savings ranging between 10% and 50%. Today, it is committing to cuts on dozens more popular products, which will be introduced in stores over the next two weeks.
“Since Brand Guarantee launched in 2015, we have continued to invest in simpler, lower everyday prices. As a result, the scheme is far less relevant for our customers today, and so we are withdrawing it as we focus on offering customers even more straightforward value for money at the shelf edge.
“In recent weeks, we have already reduced the prices of over 260 popular products, including own brand and branded favourites, and we will continue to work hard to offer our customers great quality food at great prices,” said Alessandra Bellini, Tesco Chief Customer Officer.