UK grocery retailer Waitrose will match the prices rival Tesco puts on 1,000 branded products.
The matched items will cover some 1,000 everyday branded products such as Heinz Baked Beans, Bisto, Branson Pickle, Marmite, Lurpak and Hovis, Waitrose said today (27 September).
This is the first time the upmarket chain has taken up price-matching tactics associated with less premium rivals such as Asda and Sainsbury’s.
The retailer said the move is “underlining its value proposition” by building on the success of its essential Waitrose own-label range, which now accounts for some 17% of sales.
Waitrose managing director Mark Price said: “Today’s move extends our appeal still further by offering excellent value on 1,000 popular branded goods, giving customers yet another reason to shop with us.”
The items will be monitored twice a week to ensure they are kept in line with Tesco’s prices. Waitrose has will run an ad campaign across press, TV and outdoor as well as through a direct mail campaign to its customers.