11th Apr 2016 11:30
LONDON (Alliance News) - Tesco PLC said on Monday it will allow customers to use Brand Match coupons issued by rival J Sainsbury PLC in its own stores, just days after Sainsbury's announced it is axing the scheme.
Last week Sainsbury's said it was getting rid of the price comparison scheme in favour of lower regular prices, with the last of the coupons to be issued on April 26.
Brand Match compares prices on branded products with rival supermarket Asda Ltd. If, at the end of a customer's shop, it is found that they could have paid less for an identical basket of branded products at Asda, the customer would receive a coupon for the difference in price.
On Monday, Tesco said it will let customers use their Sainsbury's Brand Match coupons at Tesco until June.
Last October, Tesco launched its own brand-matching scheme called Brand Guarantee, which compares prices of branded products with Sainsbury's, Asda and Wm Morrison Supermarkets PLC. Unlike Brand Match, Brand Guarantee offers money off the customer's bill there and then, without issuing coupons.
"This is a little help for Sainsbury's customers from us at Tesco. It also provides the opportunity for Sainsbury's customers to experience Tesco's Brand Guarantee, which we launched in October, and has been universally welcomed by our customers," Chief Executive of Tesco UK & Republic of Ireland Matt Davies said in a statement.
Last year, Morrisons scrapped its Match & More loyalty rewards scheme, which compared its prices with Sainsbury's, Tesco, Asda, and discounters Aldi and Lidl. Under this scheme, shoppers would receive the price difference in the form of loyalty points, rather than money off.
Shares in Tesco were trading up 2.1% at 194.45 pence on Monday afternoon, while Sainsbury shares were up 1.0% at 291.40p.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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