Amazon, looking for a competitive advantage in the face of rising living costs, announced on Monday that it will match Tesco's prices on hundreds of products.
Amazon Fresh's new scheme, which delivers groceries to Amazon Prime subscribers, will match Tesco Clubcard rates on daily items such as meat and fish.
“We know that our customers are looking for ways to save on their weekly grocery shopping,” Russell Jones, Amazon Fresh director said.
Faced with the most difficult economic conditions in decades, Britain's food retailers are keeping a closer eye on each other's prices than ever before.
Tesco's Clubcard Prices initiative has been well received by customers. Holders of the group's loyalty Clubcard pay up to half the price of non-holders on over 3,000 in-store and online products.
In The Grocer's widely regarded weekly pricing study, Tesco is increasingly featured as the lowest of Britain's main four supermarkets when Clubcard Prices are taken into account. more info
Tesco and Sainsbury's also match prices with German-owned discounter Aldi.
Amazon does not disclose out numbers for its UK grocery sales, making estimating its market share difficult.
However, in February, the Competition and Markets Authority determined that Amazon must follow the Groceries Supply Code of Practice.
The law only applies to stores with a yearly grocery sales turnover of more than 1 billion pounds ($1.2 billion).
Tesco controls more than a quarter of the UK food market.
(Source:www.investing.com)
Amazon Fresh's new scheme, which delivers groceries to Amazon Prime subscribers, will match Tesco Clubcard rates on daily items such as meat and fish.
“We know that our customers are looking for ways to save on their weekly grocery shopping,” Russell Jones, Amazon Fresh director said.
Faced with the most difficult economic conditions in decades, Britain's food retailers are keeping a closer eye on each other's prices than ever before.
Tesco's Clubcard Prices initiative has been well received by customers. Holders of the group's loyalty Clubcard pay up to half the price of non-holders on over 3,000 in-store and online products.
In The Grocer's widely regarded weekly pricing study, Tesco is increasingly featured as the lowest of Britain's main four supermarkets when Clubcard Prices are taken into account. more info
Tesco and Sainsbury's also match prices with German-owned discounter Aldi.
Amazon does not disclose out numbers for its UK grocery sales, making estimating its market share difficult.
However, in February, the Competition and Markets Authority determined that Amazon must follow the Groceries Supply Code of Practice.
The law only applies to stores with a yearly grocery sales turnover of more than 1 billion pounds ($1.2 billion).
Tesco controls more than a quarter of the UK food market.
(Source:www.investing.com)
