Tesco is today announcing that it will end its Brand Guarantee scheme on 16 July 2018, as it continues to invest in lower prices for customers at the shelf edge.
The Brand Guarantee scheme offered customers a price match on branded goods when they bought 10 or more items (including at least one eligible branded product) in larger stores or online, with the difference refunded at the checkout.
As a result of our continued investment in simpler, lower everyday prices, fewer than one in eight transactions today receives any refund at all. At the same time, a majority of customers now tell us they would prefer lower everyday prices instead.
In the last month we have already cut the price of over 260 everyday products, with savings ranging between 10% and 50%. Today we are committing to cuts on dozens more popular products, which will be introduced in stores over the next two weeks.
Alessandra Bellini, Tesco Chief Customer Officer, said: “Since Brand Guarantee launched in 2015, we have continued to invest in simpler, lower everyday prices. As a result, the scheme is far less relevant for our customers today, and so we are withdrawing it as we focus on offering customers even more straightforward value for money at the shelf edge.
“In recent weeks, we’ve already reduced the prices of over 260 popular products, including own brand and branded favourites, and we’ll continue to work hard to offer our customers great quality food at great prices.”