Tesco takes back price guarantee after customers cash in
29 Apr 2011
Supermarket chain, Tesco on Thursday withdrew its double-the-difference price guarantee after finding that it was being misused by some customers to make money.
Launched earlier this year, the retailer had promised to pay customers double the price difference for products found to be priced higher than its rivals, in the form of vouchers.
The promotion from Tesco came after its rival Asda, in January, launched a campaign claiming its prices were at least 10-per cent cheaper than other supermarkets. Asda even promised to refund the difference in prices if they could be bought cheaper elsewhere.
Tesco, in retaliation, offered to accept Asda vouchers and later at the end of February brought out its double-the-difference scheme.
Now backtracking after just two months, Tesco said it will no longer pay double the difference but just reimburse customers the difference with a voucher.
A company spokesperson said the scheme had ''given rise to a cottage industry of savvy and determined people'', who though in a small minority, ruthlessly used the scheme to make money.
