Tesco look set to slash prices in time for Christmas
The murmur in the ‘industry’ is that the UK’s biggest supermarket is planning to get rid of price promotions in favour of ‘everyday low prices’, slashing prices across the board to make for a cheaper shopping basket, in some kind of supermarket ‘day of reckoning’.
The news is already making the share prices of their competitors look a little green around the gills with share prices in Ocado, Sainsbury’s and Morrison’s all falling as speculation grew.
The ‘everyday low price’ method is favoured by WalMart in the USA and is Tesco are believed to be ready to be reveal it as early as next week - managers have received a document and are all scheduled to report for duty on Sunday. The cuts could also be seen in their smaller Express stores, where prices are often up compared to the larger branches.
We’ll keep an eye on the situation and report back to you if and when Tesco announce the price slashing. It’s exciting stuff if you’re a shopper – a glorious part of life’s rich pageant.