Tesco announce £500m of price cuts

22 September 2011

tesco NEW Earlier we primed you for an impending supermarket price war, with Tesco planning to slash £££s off the prices of ‘stuff’ ahead of the Yuletide binge. Now they’ve spilled the beans on what it’s all about. And they reckon it's 500 million of £££s that will be slashed.

‘The Big Price Drop’ will start on Monday and Tesco will be cutting the price of 3,000 products, including household staples like milk, bread, fruit, vegetables and spices. A lot of the reductions will be in their own brand products, and Tesco say that some of them will now cost half as much as their rivals’ equivalents.

In order to cover the costs, Tesco have said that they’ll be cutting back on promotions, with fewer multi-buy offers as well as bringing the Clubcard double points promotion to an end.

Tesco top knob Richard Brasher said: “Across the country families are telling us the same thing: their budgets are under real pressure. They want more help today to afford everyday essentials. We have listened carefully and, for families facing hard times, the Big Price Drop will cut prices on the products they need to buy the most.

“We're giving customers a more straightforward shop, reducing the number of promotions and putting the emphasis on clear and reliable savings that everyone can benefit from.”

The ball is now in the court of Tesco’s rivals, and we can expect similar braying about price cuts over the next few weeks. Which can only be a good thing for the consumer.

TOPICS:   Christmas


  • bingobango
    Hopefully they will release a list of the products which have been cut (with their previous and new cut prices). Go and buy all the stuff in ASDA then do the 10% difference thing!
  • steve
    ...but without writing anything down inside the tesco store.
  • PlatinumPlatypus
    Until Tesco give us some numbers they're gaining a lot of free hype for nothing.
  • FFS
    lol, so I'll be spending less on my shopping which means I'll be accumulating less clubcard points, which will be worth half what they used to be.... That sucks, as I liked exchanging my vouchers over for double the value when they do that promotion.
  • Pizza_D_Action
    Ah.... I thought earlier today that the Tesco Bakers Soft bread that I normally buy had gone up from 85p to £1.05..... What are the chances that on Monday its "WOO HOO, look at this bread 20% off...." Tesco = shysters
  • kv
    guaranteed the majority of the 3,000 items have been increased in price during the last month, and any price cut will be reversed in February
  • Lumoruk
    and all in the name of ending their double club card points, gay twats.
  • While t.
    [...] From the outside looking in on the latest phase of the GFC (no it never ended) unfold the brain oscillates between utter disbelief and (when that is successfully suspended) mad hilarity – and then one realises it is actually all for real. One such transitional moment was the announcement by Tesco last week that it had decided to throw stg£5oom at (staple) grocery price cuts. Clearly Britain’s biggest bruiser in the grocery business had decided that its home market is in deep recession and home-makers’ budgets are seriously squeezed. It has said as much: reported consumerist web site bitterwallet, [...]
  • crackers
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