Tesco today announced it would reduce the prices of 1,000 everyday products as part of Big Christmas Price Drop to keep Christmas special for customers on a budget and help them celebrate the season in style.
Richard Brasher, CEO of Tesco UK, said “In these tough times, customers are understandably concerned about the cost of Christmas but are still determined to celebrate with their families.
“We have some great seasonal promotions on offer in stores as you would expect but for customers on a budget we understand that Christmas is about the products you need to buy each week as well as the treats.
“Big Price Drop wasn’t a one hit wonder. It is a rolling campaign to help customers and tomorrow we will launch the Big Christmas Price Drop – reducing the price of 1,000 more everyday products that reflect what customers need to buy at this time of year.
“Tesco will deliver an affordable and enjoyable Christmas for customers and help keep their celebrations special.”
Customers have reacted positively to Big Price Drop. Since its introduction there have been well over 100 million transactions through the tills containing Big Price Drop lines and over 13 million Clubcard customers, 90% of those to shop with Tesco during this period, have saved at the tills.
As part of the Big Christmas Price Drop, families will continue to save on popular everyday items including different varieties of meat, fruit, vegetables, bread, milk and juice.
Customers have told Tesco that while they were anxious about the cost of Christmas this year and would evaluate spending to spread out the cost of Christmas, they are still determined to celebrate and spend on their Christmas meal, gifts for children and festive drinks.
Close to half of customers have started their gift shopping already compared to just one in 10 telling us that they will wait and buy at the last minute. Customers have also been spreading their spending throughout this year, especially around pay day. This Friday is the last pay day before Christmas for many which means there is a big weekend coming up.
80% of customers are planning to buy at least some of their general merchandise online and a nearly a quarter of customers are planning to do a significant amount of food shopping online.
Tesco will open more stores later on Christmas Eve and will have nearly 2,000 stores open on Boxing Day. Superstores and Extras will operate on 24-hour trading from 21 December until they close on Christmas Eve and Click & Collect will be available 24 hours a day at over 250 Extra stores.