Blog: Tesco UK MD Chris Bush on its Price Promise

More than ever, in today’s economic climate, we know customers want to rely on us to offer the best possible prices.

We work hard to keep the cost of the food that matters most to customers low.

And we try to give our customers meaningful price promotions, to help them keep shopping costs down.

In this way, our fiercely competitive industry has been driving down the cost of food for generations, so that where food used to account for more than 20 per cent of a family’s disposable income in 1966, today its less than ten per cent.

That’s good news for customers.

But we want to do more to help our customers navigate what can sometimes feel like a confusing landscape of price cuts, price promotions and special offers.

So we’re giving our customers a simple Price Promise.   If your comparable grocery shopping basket would have been cheaper and Asda, Morrisons or Sainsbury’s, we’ll give you a coupon for the difference automatically at the checkout.

As well as the convenience of getting the coupon automatically, without having to visit a website and type in details, our Price Promise covers both branded and own label grocery products, including fresh food.  That’s an industry first - no other UK supermarket is offering both the simplicity of a coupon at the checkout and a comparison as comprehensive as ours. With the average supermarket shopping basket containing around 50 per cent own label goods, our comparison goes further than any other currently available to UK shoppers.

It will even cover price promotions, such as buy-one-get-one-free and half price that we and other supermarkets offer.

We know that most of our customers already save money by shopping at Tesco.  On those occasions where they could have got a better deal elsewhere, we’ll make sure we give them back the difference.

The upshot is that our customers won’t have to shop around for the best prices deals on the products they want to buy, they can trust our prices, and have confidence that they’re shopping in the right place. 

42 per cent of British shoppers visit more than one supermarket each week.

When all those trips are added together, that’s a lot of time that could be better spent doing other things. And as we like to say, every little helps.

Taken from Tesco’s Talking Shop