Tesco ramps up fight back against German discounters
Tesco has ramped up the competition with the German discount supermarkets as it pledged to price match hundreds of products.
The UK’s Big Four supermarkets – which also includes Asda, Sainsbury’s and Morrisons – have been shedding market share to budget rivals Aldi and Lidl.
Tesco, which is the UK’s largest supermarket, suffered a 0.8 per cent drop in sales in the past 12 weeks while Aldi’s sales jumped 5.7 per cent. Meanwhile Lidl was crowned the UK’s fastest growing grocer.
Today’s price match pledge, which also includes branded products such as Warburtons bread, is a further attempt to win back market share from Aldi.
The company said it would ensure “customers are getting competitive prices on these products at Tesco and saving themselves a trip.”
In 2018 the grocer launched budget chain Jacks as a direct competitor to Aldi and Lidl, however in June last year the supermarket revealed Jacks had generated sales of just £24m.
Tesco chief customer officer Alessandra Bellini said: “Our customers tell us they want the most competitive prices on the things they buy regularly.
“This campaign will help time-poor and budget savvy customers get Tesco products at Aldi prices on products that matter to them.”