Tesco Everyday low price advert

Tesco kicked off the year with a new everyday low pricing campaign

Tesco offered the cheapest basket this week after ferocious competition that left less than 1% between first and third place.

The Grocer’s vegan 33 basket cost £73.30 at Tesco, making it 0.2% cheaper than Asda (£73.47) and 0.7% cheaper than Sainsbury’s (£73.78).

This is the first price comparison survey since both Tesco and Asda launched price campaigns, with Tesco pledging a new era of everyday low pricing, and Asda’s promise to be cheaper than full-range rivals on over 2,300 everyday products, including loyalty pricing.

Of the 20 branded products in this week’s basket, Asda beat Tesco on 10 including Aussie shampoo and Deliciously Ella Caramel Cups. Tesco bested Asda on eight brands, including The Tofoo Co tofu and Kallø vegetable stock cubes. They tied on the remaining two SKUs.

Tesco had seven exclusively cheapest items and Asda eight.

 

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Sainsbury’s has been quieter on public pricing pledges, but has moved on price the most. It had 12 price promotions including a deep price cut on Mutti chopped tomatoes for Nectar members. Sainsbury’s basket cost 10.6% less than a month ago, and 7.4% less year on year.

Morrisons trailed 3.9% behind Tesco. Its £76.29 basket was exclusively cheapest on four items and its price cuts the shallowest, despite a reduction of 2,500 prices in January.

Waitrose has not joined the latest fray. Its basket cost 5.9% more year on year, although its eight promotions contributed to a reduced total month on month. Tesco’s basket was 12.9% cheaper than Waitrose’s £84.19 total.

Fifteen products cost more than a year ago, led by beansprouts (25%), vegan coleslaw (18%) and Mutti tomatoes (12%). Method kitchen cleaner, Vadasz sauerkraut and Plenish ginger immunity shot had the biggest annual price reductions.

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