Tesco launches its new Price Promise campaign with money-off coupons
11 Mar 2013
UK's biggest grocer, Tesco, today launched its first major push on prices under new UK boss, Chris Bush, as it battled to wrest back market share it lost to rivals.
According to the company, its new "Price Promise" would compare overall costs at the cash counters for a basket of branded, own-label and fresh food against the same or equivalent products from Wal-Mart's Asda, J Sainsbury.
If the comparison showed the Tesco basket to be cheaper elsewhere, a coupon for the difference in price, up to a maximum of £10 ($15), would be issued automatically with the customers' shopping receipts.
Online shoppers would be sent coupons by email.
According to Bush, Tesco was the first major retailer in the UK to compare its prices against the branded and own-label prices of competitors and give customers an automatic coupon for the difference. Bush took over the running of the British business from group CEO Philip Clark in January.
Tesco had tested the scheme in Northern Ireland.
