Tesco Slashes Prices of its 200 Essential Grocery Products

Set as one of its most important benchmark to help its loyal consumers to save money and reduce daily expenditure costs, Tesco Malaysia has kicked-off this year’s price cuts campaign on its 200 essential grocery products. This year, the ongoing price reduction will eventually be part of its iniatives in RM50 million price cuts of its grocery and fresh wet market products, which are to be held at all Hypermarket Tesco Stores nationwide.

Speaking at Tesco’s price cut launch, which was held at its head office at Mutiara Damansara recently, Mr. Chris Bush, Chief Executive Officer of Tesco Malaysia,said, “…this is part of our ongoing quarterly commitment to help customers spend less…and it is Tesco’s first Price Cut for this year, which builds on the RM25 million invested last year’s reducing prices…Tesco’s price cut will also benefit the ‘Buy Malaysian Products’ campaign that the Ministry of Domestic Trade and Consumer Affairs is championing as almost all products involve are homegrown…”.

Tesco  Malaysia Marketing Director, Mr. Paul Morris said,”being the only hypermarket with our own loyalty card, Clubcard, that allows us to track customer purchase behavior and trends. We have seen a significant change in our stores as customers focus their hard earned salaries more and more on essential groceries”. Mr. Morris added,”Tesco continues to put focus on its Everyday Low Price items particularly on fresh food and groceries as well as to continue to have the price cut  initiative as a long term price reduction strategy for customers”. Officiating the Price Cut campaign were Tuan Daud bin Tahir, Deputy Secretary General of Domestic Trade and Dato’ Mohd Elias Abu Bakar.

Looming with global’s financial uncertainty, Tesco is looking forward to its expansion plans, as it has allocated RM500 to RM700 million in recruiting additional 18,000 workforce in Malaysia.