John Lewis-owned Waitrose has built upon 2010’s discount pledge by announcing a further 7000 grocery goods to be priced in line with Tesco’s products.
This price match guarantee excludes promotions, but the company will also offer 1000 products through their own promotions to counter any shortcomings they have on Britain’s largest retailer.
The news will come as further food-for-thought for the world’s third largest grocery store, who have had to fend off criticism of their own processes and finances in the last month, let alone competition from their rivals.
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"This decision should help to reassure Waitrose's client base about its base pricing and also nullify some of the benefit that has accrued to Sainsbury from what has been a remarkably effective 'Brand Match' initiative," proclaimed Shore Capital analyst Clive Black.
He added: “Waitrose is undoubtedly the most potent supermarket brand in the UK at the minute.”
This claim is supported by Waitrose’s two other facets in which they are reveling in at present. Firstly, their online capabilities significantly match Ocado’s (who sell Waitrose goods online), and Tesco themselves.
They have also vowed to offer free delivery to shoppers who have spent over £50 on their groceries – appealing more to the ‘weekly-shop’ consumers that Tesco used to account for so dominantly.
Waitrose had often been criticised in the past for being too expensive and exclusively targeting a more middle-class market, but Managing Director, Mark Price rubbishes these stereotypes, and believes that all the money circling around the company reflects in a quality service as well as competitive prices.
“If you were to go up to someone in the street and ask them how much does it cost to shop at Waitrose they would say 20 percent more than Sainsbury’s, 25 percent more than Tesco. It’s simply not true.”
“We use our dividends in a different way to the others. We obviously pay our staff a bonus but we can also give money back to customers,” he continued.
The emphatic rise to prominence over the last three years represents an overall trend within the John Lewis organisation, and the grocery store is now challenging Morrisons for the best-of-the-rest mantle. Tesco, Asda and Sainsbury’s will now undoubtedly be looking over their shoulder too.