Leading UK Tesco is succumbing to pressures from deep discounters, saying it will commit to price match Aldi on hundreds of items that matter to them.
Tesco said hundreds of branded products will be matched to Aldi prices, ensuring customers are getting competitive prices. The campaign includes important products such as its own-brand Ripe Bananas (5 Pack) and Whole Cucumbers, as well as many other Tesco products.
This comes at a time when Tesco's market share continues to lose pace, having falled from a high of more than 30% to 27.2%, according to Kantar. Aldi has a 7.9% share of the UK grocery market, while Lidl is on 5.8%.
Tesco is hoping its Aldi Price Match campaign will help create more of a gap. The scheme will also be available online.
“Our customers tell us they want the most competitive prices on the things they buy regularly," Alessandra Bellini, Tesco Chief Customer Officer, said. "This new campaign will help time-poor and budget savvy customers get Tesco products at Aldi prices on products that matter to them.”
According to a report in Marketing Week, Aldi dismissed this latest move from Tesco, saying, “Our promise to our customers is they will always pay the lowest prices on every product we sell.”