Tesco wine

Tesco has overhauled its wine offer as part of Project Reset with lower prices and clearer ranging.

As of this week, the retailer has slashed prices on its Finest wine range and also moved to what it claims will be a new, more transparent and simpler pricing strategy across its entire range.

It said that as part of a “simple, clear and straightforward” policy, prices would be based as much as possible on round numbers, such as £5, £5.25, and £5.50.

However, the move will also see an estimated 30% of products in its wine category fall victim to the Reset rationalisation, in a move Tesco claims will boost availability of its most popular lines.

“Instead of running lots of half-price promotions, we’ve decided to do things differently. We’re going to offer the same, simple, low prices on wines - all the time,” said a spokeswoman.

“This means that for customers they’ll no longer have to navigate lots of deals. We’re being more transparent, so they will be able to get the wines they love at better, everyday prices.”

Tesco said a key plank of its strategy would be prices on its Finest wines and instead of running mostly 25% off promotions, it would sell these wines at prices that were “consistently simple and low”.

She said the key branded wines remaining in the reduced range would benefit from improved shelf presence, alongside its own label line-up, which has won the International Wine Challenge award for ‘Own Label Range of the Year’ three times in a row.

Tesco claimed it would still offer the broadest range of any retailer in the country - with more than 650 wines remaining. Examples of some of the changes on prices include Plaza Centro Prosecco, which is reduced from £12.99 to £6.50, Dino Pinot Grigio, which was £9.99, now £5, Castillo San Lorenzo Reserva, (was £12.99, now £6.50), Tesco Finest Malbec (was £7.99, now £6) and Tesco Finest Old Vines Tempranillo, (was £7.99, now £5.50).

“It’s a better way of serving our shoppers - and it’s good for our suppliers too,” said the spokeswoman. “It will mean that the demand for wine will be much more stable and steady - helping us all work together better and plan more consistently. “Our customers want their shopping trip to be easier and they want better availability on our most popular products.”

She said Tesco had cut more than 1,000 prices in total since the start of Project Reset.

Tesco is launching the new strategy with point of sale signage that will feature customers’ wine reviews.