Grocery giant Tesco has today launched the UK’s first price comparison coupon, which covers own-label as well as branded products.
Price Promise compares the overall cost of a basket of branded, own-label and fresh food and matches the prices against the same or equivalent products from Asda, Morrisons and Sainsbury’s.
If the basket would have been cheaper elsewhere, customers are automatically issued with a coupon for the difference in price, up to a maximum of £10, at the till, when they receive their shopping receipt. Online shoppers receive their coupon by email.
According to Kantar data, around 50% of the average UK shopping basket consists of own-label goods.
The Price Promise also covers promotions such as “half price” and “buy one, get one free” offers at both Tesco and other supermarkets.
To qualify for Price Promise, customers must have a basket containing a minimum of 10 different products, at least one of which must be comparable.
Tesco UK managing director Chris Bush 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.
The supermarket said the decision to launch the automatic Price Promise follows positive feedback from trials it has held over the past few months in Northern Ireland.
Previously, customers were able to receive Price Promise coupons by logging on to the Price Promise website.
Meanwhile Harris + Hoole, the coffee shop chain backed by Tesco, is to start an aggressive expansion push in central London, according to the Independent on Sunday.
It today launched its first outlet in a Tesco store in its London Bridge shop.
Harris + Hoole, which currently has 13 locations, plans to open 15 more in central London before the end of the year. These will be located both within Tesco and standalone shops, including a flagship store by Cannon Street station that will open in the summer.