UK-based global retailer, Tesco, has announced to discard its Brand Guarantee scheme that provided customers price-matching on branded goods. The scheme will be completely abandoned from 16 July.
Alessandra Bellini, Chief Customer Officer, Tesco, said that since the scheme was launched in 2015, the company has continued to offer lower everyday prices which has made the scheme less relevant for the consumers today. The company is going to focus more on offering customers straightforward value for money at the outlet.
Markedly, whenever a customer bought more than ten products, the scheme by Tesco offered them a price-match on branded goods in larger stores or online. The difference used to be refunded at the checkout. The prices were compared with other big retailers in the country such as Sainsbury’s, Asda, and Morrisons.
According to a leading media house in UK, it has been said that due to the arrival of many discount retailers in Central London, Tesco is at risk of losing its loyal customers to Aldi and Lidl, two German retailers who offer goods at discounted prices.