Tesco to end Brand Guarantee scheme
The scheme offered customers a price match on branded goods when they bought 10 or more items, of which at least one had to be an eligible branded product. Shoppers then received a refund for the difference at the checkout.
Tesco said its continued investment in “simpler, lower everyday prices“ meant that fewer than one in eight transactions today received any refund at all.
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.”
Tesco revealed that in the last month it has cut the price of over 260 everyday products, with savings ranging between 10% and 50%. This week it has also committed to cuts on dozens more popular products which will be introduced in stores over the next two weeks.
Bellini added: “We’ll continue to work hard to offer our customers great quality food at great prices.”
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