(Bloomberg) -- Tesco Plc will offer as much as 50% off hundreds of products to members of its Clubcard loyalty program -- the latest sign of a growing supermarket price war in the U.K.
Britain's largest grocer said the discounts will apply to brands including Carte D'Or, Birds Eye and McCain, as well as Tesco's own-label products. This follows the campaign Tesco began earlier this year to match the prices of more than 500 items at rival German discount grocer Aldi.
Tesco said it aims to provide low prices for everyday items as consumers focus more on value. British supermarkets have enjoyed record sales in recent months as people eat at home more while working remotely, but competition is intense. Consumers will probably become even more price conscious as a state wage support program ends next month and as uncertainty grows with the possibility of a no-deal Brexit.
Wm Morrison Supermarkets Plc, Britain's fourth-largest grocer, last week said it was cutting prices to help shoppers cope with the U.K. in a recession. Asda, owned by Walmart Inc., has launched a new TV advertising campaign to promote lower prices on thousands of items.
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