Tesco shoppers 'switching to rivals at record levels' |
| Tuesday, 02 December 2008 | |
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Tesco customers are switching to competitors such as Asda and Morrisons at an unprecedented level, according to figures revealed today. In the 12 weeks to 2 November, £22m was switched from Tesco to its biggest rival Asda, TNS Worldpanel said, reports the Times. After Tesco today said that third quarter UK like-for-like sales were up 2% but its discounting tactics have deflated growth, TNS found that £10m has been switched to Aldi. TNS also said in the four weeks to 4 November, Tesco sales grew by 4.2%, while during the same period they were up 9.2% at Asda and 8.2% at Morrisons. A Tesco spokesman said: "Data like this is out of date as soon as it's printed. "We know that the work we have done on the new discounter range, on cutting prices and introducing thousands of promotions has attracted significant numbers of new customers to Tesco over the last few weeks." Last week, Tesco said it would be passing on the 2.5% cut in VAT early to consumers, in an effort to stimulate spending activity. Related Articles
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