Tesco has said its customers will be able to use Sainsbury’s "Brand Match" coupons, to get money off their shopping starting from today.
The move comes after rival Sainsbury’s, currently the best performer of UK’s big four supermarkets, announced that it would end the once-pioneering brand match scheme last Thursday.
The scheme allowed shoppers to claim money back if it was proven that branded goods were cheaper at rival Asda.
Sainsbury’s said it will no longer issues coupons from the 27 of April and reinvest the money from the scheme on reducing the prices of basics such as bread, cheese and household cleaning products. Tesco will accept any remaining "Brand Match" coupons until June.
The offer coincides with Tesco’s own brand-matching scheme, “Brand Guarantee” , launched in October last year. The offer gave customers the immediate difference in price at the till without the need for paper coupons.
“This is a little help for Sainsbury's customers from us at Tesco. It also provides the opportunity for Sainsbury’s customers to experience Tesco’s Brand Guarantee, which we launched in October, and has been universally welcomed by our customers," Matt Davies, Tesco UK and ROI CEO said
“Tesco has also invested in bringing down the price of leading brands and have introduced simple, more affordable prices on many of the everyday, own label products customers rely on,” he added.
Tesco is set to unveil a return to full-year profits and the first quarter of UK sales growth in three years on Wednesday as Dave Lewis, Tesco’s chief executive, tries to prove to investors his turnaround plan is working.
Sales, profit and asset values at Tesco have been hit by shift in shopping habits and the rise of German discounters Lidl and Aldi.
Lidl remained Britain's fastest growing supermarket with sales up 17.7 per cent. Sales at bigger rival Aldi rose 14.4 per cent, giving it a record-high market share of 6.0 per cent.
