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Tesco Discontinues 'Price Promise' Scheme

Published on Sep 1 2015 7:17 AM in Retail tagged: Tesco / Price Promise

Tesco Discontinues 'Price Promise' Scheme

Tesco has announced that is will no longer be issuing 'Price Promise' coupons at the checkout, close to two years after the scheme was first introduced.

In a statement, Tesco Ireland said, "Our customers have told us that they want great, simple prices on the everyday products that matter most to them. Going forward, instead of investing in Price Promise, we’re going to continue to invest in the price of everyday products that customers tell us matter the most to them through Staying Down prices."

Tesco customers can still redeem Price Promise vouchers that are in date, up to 20th September.

The Price Promise scheme was introduced in October 2013, and drew criticism from some retail experts, with Shore Capital's Clive Black telling Retail Intelligence at the time, “I think a track record of companies telling their customers that they are more expensive than somewhere else isn’t a great one."

Last year, then-Tesco Ireland chief executive Phil Clarke told Checkout, “The idea behind Price Promise was not about saying, ‘We’re more expensive’. We have prices that are cheaper than our competitors every day of the week, and we have some prices that are higher. That’s the up and down nature of the market."

© 2015 - Checkout Magazine by Stephen Wynne-Jones

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