Tesco shoppers will no longer be paid the difference in price if their goods could have been bought for less at a rival supermarket.
From 16 July, the supermarket giant is axing its ‘Brand Guarantee’ scheme, which sees it automatically price match branded goods with Asda, Morrisons, and Sainsbury’s when shoppers buy 10 or more items, including at least one eligible branded product.
Shoppers have until 12 August to check receipts on the Brand Guarantee website for purchases and deliveries made before 16 July, after which the site will close.
The supermarket says customers have told it they would prefer lower everyday prices instead of the price match scheme.
Alessandra Bellini, Tesco chief customer officer, comments: “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.
“In recent weeks, we’ve already reduced the prices of over 260 popular products, including own brand and branded favourites, and we’ll continue to work hard to offer our customers great quality food at great prices.”
Tesco says price cuts made over the last month have resulted in savings of between 10% and 50% with examples including a 43% drop in the price of Napolina Chopped Tomatoes four x 400g, taking the price to £2, and an 11% drop in the price of Tesco 100% Pure Orange Juice one litre, taking the price to £1.15.
Asda runs a price guarantee, which sees it pay the difference if it’s not 10% cheaper than Morrisons, Sainsbury’s, Tesco, and Waitrose, while Ocado prices matches against identical branded products at Tesco.com.