Tesco has taken a new strategic position in the retail market and has announced the launch of a new look, low cost product range designed to bring new competition for Irish consumers.
Featuring over 1,000 everyday products, the new Cash Savers range is available to customers in the majority of stores from last Sunday.
The move is part of a €100 million price-cutting programme that will see Tesco stores refitted with a designated black and amber Cash Savers area. Customers will now have easy access to everyday grocery products including meat, poultry, fresh Irish vegetables and bread at lower prices. The range features branded and own branded products.
The retailer has also cut the price of 3,000 grocery products including the ongoing drive to pass on the current sterling exchange rate benefits to customers. These reductions are across all grocery ranges in stores including Cash Savers. A further 2,000 prices will be reduced over the coming two to three months.
Tesco Galway, store manager, Shane Faherty said that Irish people are feeling the pinch.
“This move will give consumers the products that they are looking for in these tougher times. The new range and the price cuts are all on products that matter most to people. Our aim is to give our customers value and convenience under the one roof saving several trips for shopping around.”
Tesco Ireland will open 16 new stores this year making a capital investment of €150 million and creating over 1,200 jobs.
The overall value of Tesco to the Irish economy is €2.5 billion while the Tesco business worldwide accounts for €655 million worth of Irish food and drink exports.
This makes Tesco Group the second largest export destination in the world for Irish food and drink products.