Tesco issues huge price update for 3,000 products | Personal Finance | Finance
Tesco has announced a new commitment to maintaining low prices on thousands of top-selling products as part of a scheme designed to help customers save money on branded items. The new Everyday Low Prices scheme, launched today (Monday, January 5), is an initiative that aims to commit to low prices on more than 3,000 branded products.
It comes as new research, involving a survey of 2,000 respondents, has revealed just how much UK households value branded products. With 64% of shoppers saying they could name at least one brand they would never consider swapping, and nearly a third saying they could think of several, the findings highlight the importance of brand loyalty. Brand loyalty, clearly playing a significant role in shopping decisions, has prompted the supermarket to give shoppers a boost with lower prices.
Aswin Prasad, Tesco UK CEO, said: “Our most-loved brands don’t just have a place in our shopping baskets – they hold a genuine place in the nation’s heart. That’s why we’re committed to keeping prices consistently low on thousands of branded products through our new Everyday Low Prices.
“So whether you can’t live without Heinz Baked Beans, PG Tips teabags or Fairy Washing up Liquid – customers can be sure that they are getting consistent great Tesco value on the branded items they love to put in their trollies week after week.”
As of January 5, a 320ml bottle of Fairy Original Washing Up Liquid is priced at 90p, a 40-teabag pack of PG Tips Original black tea is £1.70, and a 150g tin of Heinz Baked Beans in Tomato Sauce is 60p.
When asked to name their favourite branded items from a list of 50 famous supermarket products, the top five spots went to Coca-Cola, Cadbury’s Hot Chocolate, Fairy Original liquid, Branston Pickle and Heinz Baked Beans.
Branston Pickle and Cadbury Highlights Milk Chocolate Drink are also among the products included in the Everyday Low Price scheme.
Tesco already has Aldi Price Match prices on more than 650 lines of products, and over 10,000 Clubcard prices. Now, with its new low prices commitment, customers can take advantage of slashed prices across more and more goods.
Products that are part of the scheme may not be available at all Tesco stores, but will be available in larger stores and online.
