Tesco reveals Big Price Drop success

Tesco calculates that since the introduction of the Big Price Drop the level of food inflation has been almost halved for customers shopping in its stores.

Tesco launched the Big Price Drop at the end of September by making an investment of £500m to help customers save money on more than 3,000 items they buy most such as milk, bread, fruit and vegetables.

In the three weeks following its launch, Tesco has seen:

• Approximately one million additional transactions per week by customers purchasing everyday products which are included in the Big Price Drop.
• More than 45 million transactions through the till where customers are buying lines included in the Big Price Drop.
• Over 10 million Clubcard customers have taken advantage of lower prices – this represents 90% of those Clubcard customers who have shopped with Tesco in the last three weeks.
• Some everyday items are proving particularly popular, for example, whole chicken, Maris Piper potatoes and salad tomatoes. Since the introduction of Big Price Drop, customers have saved over £370,000 each week on these items alone.

UK chief executive, Richard Brasher, said: “The Big Price Drop is very popular with customers and millions are already voting with their feet. In these tough times we are lowering the inflation customers experience on their weekly shop by reducing prices on more than 3,000 products that families need to buy most. We are committed to doing all we can to help our customers and our new Facebook application will enable them to tell us directly where they most value reduced prices.”

For the first time, social media will allow Tesco customers say directly where they most want to save money on their shopping list to help them every week at the tills, the retailer said.

Source: Tesco

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