Tesco is set to introduce a new range of own-brand products, it has been reported.
The move, said to be planned for the autumn, will drive down the prices of hundreds of items in its standard own-brand range.
The UK number-one retailer is aiming to win back shoppers who have turned to discount chains as food bills climb, The Sunday Times revealed at the weekend.
The latest figures from market researcher TNS Worldpanel show that discount chain Aldi took a record 2.9 per cent share of the market in the 12 weeks to June 15, after a near 21 per cent rise in sales.
Lidl and Iceland also saw double-digit sales growth as consumers try to cut their bills, with Tesco and Sainsbury's losing market share as a result, TNS said.
Tesco finance director Andrew Higginson last month said value-orientated rival Asda and the discount chains were “having a moment in the sun”.
The supermarket giant sells Value and Finest products, but is said to be looking at ways to bring down the price of its standard ranges without affecting the taste.
No comments yet