The news will come as a blow to the Big Four supermarkets and to Waitrose, which has also been running its biggest price-led activity in recent weeks.
Following the launch of Tesco’s Big Price Drop, Tesco’s value score has dropped to 19.2 on (20 October) down from 25.7 on 22 September when the price cutting campaign launched, according to YouGov data.
Sainsbury’s, which launched its Live Well for Less brand positioning on 15 September to shift perceptions that it is more expensive than its rivals, has suffered a drop in value score to 21 from 26.1 before the campaign launched.
The brand’s value score fell to a 12-month low of 15.4 in mid-October, after it also rolled out its Brand Match price campaign.
Waitrose, which launched its biggest price-led campaign ever on 5 October, has since seen its value perception fall from 7.3 to 1.1.
The lack of positive impact on value perceptions suggests that consumers aren’t convinced by the supermarket’s recent ad campaigns.