London - Tesco has set its sights on winning over Sainsbury's customers as it geared up to reveal a recovery going from strength to strength.
Tesco will accept coupons issued by Sainsbury's under its Brand Match scheme to give customers money off shopping in its own stores.
Sainsbury's last week called time on Brand Match, which gave customers the opportunity to claim money back on certain branded products that would have been cheaper in Asda. They have until April 26 to cash in.
Sainsbury's said it would be replaced by “lower regular prices” after shoppers indicated they wanted simpler pricing.
Tesco's “little help for Sainsbury's customers” will co-exist with its price matching offer, the Brand Guarantee. Customers get the price difference immediately at the till, eliminating the need for coupons.
Tesco has been staging a comeback after a torrid spell marked by sliding profits, a £263 million accounting scandal and pressure from discounters Aldi and Lidl.
Chief executive Dave Lewis is widely expected to reveal his turnaround efforts have been paying off when the grocer reports its annual results on Wednesday, with a surprise 1.3 percent jump in sales over Christmas likely to have carried over to its fourth quarter.
Bernstein's Bruno Monteyne said Lewis's strategic shift, involving sales of non-core assets, store closures and heavy investment in price cuts, means Tesco is “no longer stuck in the middle”.
“If you want the very cheapest prices then Aldi will remain your choice; but if you want a broader range, popular brands and convenience... and (to) save money on essentials, then there is little reason to look beyond Tesco.”
THE INDEPENDENT