Tesco is claiming a UK first with the launch of an automatic price comparison coupon covering both branded and own label products.
Price Promise will compare the overall cost of a basket of branded, own label and fresh food groceries and match the prices against the same or equivalent products from Asda, Morrisons and Sainsbury’s.
If the basket would have been cheaper elsewhere, a coupon for the difference in price, up to a maximum of £10, will be issued automatically to the customer at the till, when they receive their shopping receipt. Tesco.com customers will receive their coupon by email.
Tesco said the inclusion of own label in the scheme responded to the penetration of these lines in shoppers’ baskets. According to Kantar data, around 50% of the average UK shopping basket include own label goods.
To qualify for Price Promise, customers must purchase a basket containing a minimum of 10 different products, at least one of which is comparable.
The own label comparisons include the Tesco Everyday Value range.
Chris Bush, UK managing director at Tesco, said: “We’re working hard to build a better Tesco for our customers in the UK, and Price Promise is an important part of that. It gives our customers complete confidence that they won’t lose out by shopping at Tesco.
“We know that most of our customers already save money by shopping at Tesco. On those few occasions where they could have got a better deal elsewhere, we’ll make sure we give them back the difference.
“We’re the first major retailer in the UK to compare our prices against the branded and own label prices of our competitors and give customers an automatic coupon for the difference.
“Together with the Clubcard points our customers collect, Tesco offers exceptional value at a time when many families are watching the pennies.”
Tesco said the automatic Price Promise has been trialled over the last few months with customers in Northern Ireland, and the decision to launch nationwide follows their positive feedback.
Previously, customers were able to receive Price Promise coupons by logging on to the Price Promise website.