UK: Tesco targets Asda's price guarantee with new campaign
Tesco is targeting Asda's price guarantee with a new discounting campaign
Tesco has announced plans that look set to step up price competition between the UK's largest supermarkets.
The country's largest supermarket group has unveiled a a GBP200m (US$324.8m) campaign to lower prices on 1,000 everyday items, including Uncle Ben's Long Grain Rice, Uncle Ben's rice, bread, dairy, fruit and vegetables. The group also said that it would offer vouchers to customers who find cheaper prices at Asda. The vouchers will be worth twice the difference, Tesco said.
Customers will be able to check the price of their purchases against Asda on Tesco's website.
The announcement follows the launch of Asda's "price guarantee" in early January, where it promised to be 10% cheaper than rivals or it would refund the difference using an online price checker.
Commenting on the plan Richard Brasher, who becomes CEO of Tesco UK this week, said: "Customers are telling us that they are putting a lot of thought into how to manage their household budgets. Tesco cannot influence the cost of heating your home, or the price of your train ticket, or what tax you pay: this is our way of doing what we can to keep household spending manageable."
Food prices are on the rise in China and analysts from all over the world are keeping a close eye on the situation. Inflationary changes in China do not just affect the people of Shanghai and Beijing ...
Grocery market figures for Ireland show flat market performance as shoppers tighten their belts....
Bright Food, the Chinese food group, has bought 75% of Australia's Manassen Foods in a major deal, a "step change" according to Roy Manassen, whose father set up the business. Elsewhere, Walkers Cris...
M&A talk has continued unabated, with ConAgra revealing its disappointment around its latest offer for Ralcorp being rebuffed. The owner of former Bright Food target United Biscuits has cooled reports...
- Price an underlying tension across European FMCG
- Interview: UK trade body on Brexit's policy impact
- Danone's Q3 sales - what the analysts say
- Interview: UK trade body on the impact of Brexit
- It won't just be Unilever to push for Brexit hikes
- Nestle lowers outlook on "softer environment"
- UK announces "action plan" to drive food exports
- Kraft Heinz: Innovation more important than ever
- Online snack seller Graze makes US retail debut
- Bel takes majority stake in MOM Group
- The Big 15: Strategies and Priorities of Top Packaged Food Players in Comparison
- Omega-3 in Food and Beverage:Time for a Reboot?
- Global Food Packaging: Innovating for Greater Convenience and Quality Image
- Packaged Food: Quarterly Statement Q3 2016
- Constellation Brands, Inc. (STZ) - Financial and Strategic SWOT Analysis Review