Waitrose to take Tesco head on in price contest

WAITROSE is to take Tesco head on after the supermarket giant revealed that it will price match its rival on over 1,000 branded products.

Starting today, Waitrose will use Tesco as a benchmark when pricing its top-selling everyday branded products, such as Persil, Ribena and Heinz Baked Beans.

Managing director Mark Price said this is likely to mean the supermarket will take a £26m hit on its margins to keep its prices as low as Tesco’s.

Price said the move was not to start a war with Tesco but that it was using the supermarket as a comparator because it is the largest.

Waitrose said the move builds on the success of its own in-house brands, which already make up 17 per cent of its sales.

Waitrose will monitor the price-matched items twice a week.