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.
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