Supermarket giant Tesco has taken steps to provide value for its customers by locking the prices on more than a thousand everyday products until 2024.
This initiative is part of the company's strategy to assist customers in managing their household budgets, particularly in light of the ongoing cost-of-living pressures.
Alongside this, Tesco has recently implemented price cuts on hundreds of items and introduced a price-matching scheme with Aldi on hundreds more products.
Price lock on popular products
As the year draws to a close, Tesco says it aims to ease the financial burden on consumers by implementing a price lock on a wide range of popular products, ensuring that prices will remain unchanged until the start of 2024.
Among the products included in this initiative are household staples such as Typhoo One Cup teabags, Jacobs' Cream Crackers and Aquafresh Freshmint Toothpaste.
This move is part of Tesco's declared commitment to provide customers with predictability and stability in their shopping budgets.
Tesco UK CEO Jason Tarry emphasised the importance of this measure, stating:
"We know that this has been a year of budgeting carefully for shoppers, with customers wanting to make sure they are getting great value on their shop. By locking more than 1,000 prices, our customers know exactly how much they will pay for those items today, at Halloween, at Christmas and into 2024."
A comprehensive approach to value
Locking prices on more than a thousand products is just one component of Tesco's broader strategy to offer exceptional value to British shoppers. The supermarket chain says it is also focusing on identifying opportunities for savings and passing those benefits on to customers.
Furthermore, Tesco has taken steps to match the prices of more than 600 staple products with those offered by Aldi each week.
Since announcing price reductions on 500 product lines in June, Tesco has continued to lower prices on a weekly basis, resulting in significant savings for shoppers. Products such as Andrex Toilet Tissue, Free From white rolls and Pitted black olives have seen price reductions of 9%, 14% and 8%, respectively.
Tarry emphasised: "Food inflation is still with us, but by cutting prices wherever we can and by locking others to give customers certainty in their budgets, we are able to provide great value to our shoppers. When you combine that with the more than 8,000 Clubcard Prices deals each week, there are thousands of reasons to shop at Tesco."
