Tesco axes Brand Guarantee scheme

The supermarket brand has announced plans to end its brand guarantee scheme on July 16, 2018 in favour of investment in lower prices.

Tesco reports that due to falling everyday prices the programme is no longer as relevant to customers as it was when set up in 2015.

Today fewer than one in eight transactions receives any refund at all due to investment in lower everyday prices.

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.

Alessandra Bellini, Tesco chief customer officer, said: “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.”

Examples of lower prices include, Napolina Chopped Tomatoes 4x400g, down 43 percent to £2 and Woodside Farms Unsmoked Back Bacon 300g, down 16 percent to £1.09.