12th Oct 2015 07:05
LONDON (Alliance News) - Tesco PLC Monday said it has launched a new price-match scheme called Brand Guarantee, which offers customers an immediate price match and money off at tills.
The new scheme replaces Tesco's Price Promise programme, whereby customers would receive a money-off voucher to use on future visits if their basket of items could have been purchased more cheaply at one the other UK big four supermarkets J Sainsbury PLC, Wm Morrison Supermarkets PLC and Wal-Mart Stores Inc-owned Asda.
Under the new Brand Guarantee, customers will immediately get money deducted off their bill at the till if found that their branded grocery shop would have been cheaper at one of Tesco's other big four rivals. It only applies to branded items, however, and not Tesco's own labels, whereas the Price Promise scheme applied to both branded and non-branded products.
The scheme will also work online.
"Shoppers tell us price matching vouchers are a pain and don't really help them. We all know it can be stressful and awkward when you have to rummage through your wallet to find a price match voucher. That's why we're ensuring that with Brand Guarantee customers will never lose out on their branded shop by getting money off their bill at the till," Tesco's UK and Ireland Chief Executive Matt Davies said in a statement.
"We're working hard to make the shopping trip that little bit easier for customers, with simple, affordable prices you can trust. Brand Guarantee is one more way we are taking the hassle out of a trip to the supermarket or an online shop," he added.
Shares in Tesco were down 0.4% at 204.00 pence shortly after market open.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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