The renamed range replaces Tesco Value, the first basic supermarket own label brand when it was launched 20 years ago.
Much like Tesco’s Clubcard and countless other initiatives since, Tesco was blazing a trail in 1993 when Tesco Value launched, but a lot has changed in the last 20 years.
The new Everyday Value range is a breath of fresh air from Tesco. It looks better and Tesco claims it will taste better and be better for you.
Hopefully it signals the first of many changes for its own-label ranges as it seems obvious that this refresh wont stop here.
Once the darling of UK PLC, Tesco has fallen somewhat out of favour but now seems to be addressing all areas of its business to return some of the sparkle to its brand and business.
If there’s one thing January’s profit warning achieved, it served to put a rocket up Tesco’s behind to improve and modernise where it has neglected to do so in recent years.
CEO Philip Clarke, who recently took full control of the UK business after Richard Brasher’s shock exit, has previously admitted that Tesco was lagging behind on the quality of its products and in this relaunch, has taken steps to address that.
While it became a £1bn brand last year in terms of sales, the problem with the Tesco Value brand was that to customers it meant ‘cheap’ not ‘value’.
With the relaunched Everyday Value range, Tesco is shifting the rhetoric away from price to real value by making improvements in quality.
The products in the range have been reformulated with less fat and sugar and more fruit and vitamins where possible but the prices will remain the same.
The brand overhaul gives Tesco a marketing opportunity to reassert what value means to Tesco, not just in terms of the low value brand, but to the business as a whole.
Whether it takes that opportunity or falls back into the habit of uninspiring marketing of recent years remains to be seen.