Waitrose will defy spiralling consumer confidence today with a new television advert that resists the trend to focus on price in favour of playing up the store’s premium credentials.

The new advert, set to make its television debut this evening, will state: “We’re so confident in the quality of our food, if you don’t enjoy it, we’ll replace it and give you your money back.”

The move comes with the promotional efforts of the UK’s other leading supermarkets focusing relentlessly on price in a bid to stave off the threat of discounters such as Aldi and Lidl.

“In the current [economic] climate, cheapness has become confused with value in food retail,” said Waitrose managing director Mark Price. “But true value is always going to be a balance between quality and price and our new advertising campaign is designed to remind customers that Waitrose doesn't cut corners on food quality.”