Waitrose pledges Tesco price match

Waitrose is to take on rival Tesco by matching its prices on 1,000 branded products, as it continues to win customers and sales following the successful ad campaign featuring celebrity chefs Delia Smith and Heston Blumenthal.

Waitrose recently posted group sales of £4.5bn in the year to the end of January, a 25% increase over the past two years. Operating profits for the year were £268m, while sales in the first half of this year rose by 12%. The Delia and Heston ad campaign reportedly delivered an extra 370,000 in its first eight weeks alone.

This move will be the first time the upmarket chain has adopted price-matching tactics associated with budget rivals such as Asda and Morrisons. The initiative starts today (September 27).

Waitrose says this follows strong growth in its own-branded goods, which were launched in March 2009 and now make up 17% of sales.

The move comes at a competitive time in the food retail sector, with products such as bread and milk being discounted despite rising commodity prices.

The grocer is running a wide reaching press advertising campaign highlighting the branded goods that will be involved in the price match.

This story first appeared on Pitch, Centaur’s subscription-based online interactive marketplace for agencies and clients to share news, opinion and debate.

Latest from Marketing Week

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3703 or email customerservices@marketingweek.com

If you are looking for our Jobs site, please click here