Home Business News Tesco to axe this money-saving scheme from July

Tesco to axe this money-saving scheme from July

by Purvai Dua
25th Jun 18 1:36 pm

 

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Tesco will abandon its price-matching scheme— Brand Guarantee— from July 16 as majority of its customers prefer lower everyday prices instead. Britain’s biggest retailer said that by cutting prices it had made the scheme, launched with much fanfare in 2015, redundant.

Under the scheme, Tesco customers were offered 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 our continued investment in simpler, lower everyday prices, fewer than one in eight transactions today receives any refund at all,” Tesco said, adding: “At the same time, a majority of customers now tell us they would prefer lower everyday prices instead.”

Alessandra Bellini, Tesco chief customer officer, said: ‘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.’

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