Tesco has relaunched its Brand Guarantee and will tell customers that they won't pay more for branded goods immediately.
In announcing the new strategy, Tesco claimed that the move came from direct customer feedback which would price match against branded good sold by competitors Morrison's, Asda and Sainsbury's. The difference will be dedicated automatically in-store at the tills and online as well.
Competitor promotions will also be included within comparisons, the supermarket chain has promised.
Matt Davies, Tesco UK and Ireland chief executive, claimed that shoppers had complained about the previous use of vouchers within the scheme.
“We all know it can be stressful and awkward when you have to rummage through your wallet to find a price match voucher," he explained.
“That’s why we’re ensuring that with Brand Guarantee customers will never lose out on their branded shop by getting money off their bill at the till.
“We’re working hard to make the shopping trip that little bit easier for customers, with simple, affordable prices you can trust. Brand Guarantee is one more way we are taking the hassle out of a trip to the supermarket or an online shop.”
Northern Irish stores have already trailed the scheme in recent weeks.
The move by Tesco comes as new research revealed the extent to which price match vouchers - offered by some of the UK's supermarkets - were failing to meet customers’ needs, with UK customers potentially missing out on hundreds of millions of pounds in savings each year.
According to the research, which explored the views of shoppers from across the supermarket spectrum, over a third (35 per cent) of Britain’s supermarket shoppers have never used a price matching scheme in-store, rising to a staggering 80 per cent online.
The research also showed:
Almost half (48 per cent) of supermarket shoppers cited the main reason for this as the fact they forget to use the voucher.
While 16 per cent of shoppers said they lose vouchers before they can claim their savings
Brand Guarantee is the latest step in Tesco’s drive to help customers. The retailer has already invested in bringing down the price of leading brands and has introduced simple, more affordable prices on many of the everyday, own label products customers rely on.
Sarah Willingham, Personal Finance expert said: “Price matching has become far too complicated for shoppers. What they want is simplicity. We’ve all been there – you rush out of the house to do your shopping, you’re trying to remember your bags, your list, find your car keys. You get to the supermarket checkout only to realise you’ve left your voucher on the kitchen table. Worse still, you find a voucher in your wallet only to find it has expired and you’ve lost out. Instant money off at the checkout means no more hassle and a win for shoppers. Anything that adds value to the consumer with no extra effort required is a great thing.”