Tesco Launches Luxury Food Price War

Mon, 07 Dec 2009

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Tesco has launched yet another festive price-cutting campaign, this time slashing the price of items in its Finest range.

The supermarket giant said it will cut the price of more than 200 new Finest products between now and Christmas including panettones, cranachan cheesecakes and strawberry and champagne pannacottas.

Other offers will include a half price lobster thermidore at £10 and half price king prawns for £2.50.

Tesco said the move, which will be backed by a high-profile TV campaign, is designed to stop shoppers defecting to upmarket rivals such as Marks and Spencer and Waitrose for luxury food treats this Christmas .

Richard Brasher, Tesco commercial director, said: "We know that, despite the credit crunch, shoppers are trading up for Christmas . We also know that in the past some shoppers may have felt tempted to go elsewhere for their luxury food ."

"This Christmas we think they will be in for a great surprise when they see what’s on offer."

The latest discount drive comes a week after Tesco made an unprecedented move to send out £67m worth of vouchers to Clubcard holders two months ahead of schedule in an effort to boost store sales over the festive period.

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