Tesco announces price-lock commitment ahead of holiday season, freezing prices of over one thousand everyday products until 2023; company also announces second hourly wage increase this year, rising to £10.30 --£10.98 in London-- on Nov. 13

October 5, 2022 (press release) –

• Inflation-busting move will support customers in the run-up to Christmas
• Price lock underlines Tesco’s unwavering commitment to great value for its customers
• Colleagues set to benefit too, with significant boost to hourly pay rates across UK stores

Tesco is today announcing a vast new price-lock commitment, freezing the prices of more than a thousand everyday products until 2023, and giving shoppers more ways to spend less and enjoy the festive season.

The products are all included within our mammoth Low Everyday Prices campaign, which covers a wide range of products and brands bought week-in, week-out – from cupboard staples and teatime favourites, to household and health & beauty products.

To help customers make their money go further during the festive season, we’re locking the price of more than a thousand of these products into the new year.

So whether it’s McCain Home Chips for those midweek dinners or a winter pick-me-up with Nescafe Original 3-in-1, our customers can count on Tesco’s price to stay the same until 2023 – helping them spend less on their shopping and more on friends and family this Christmas.

Low Everyday Prices is a key part of Tesco’s commitment to giving customers great value on their shopping – going hand-in-hand with our Aldi Price Match, great value own-brand staples with our Exclusively at Tesco brands and exclusive deals through Clubcard Prices, which together cover more than 8,000 products.

And it’s just one of the ways we’re helping customers make their money go further this Christmas. Our Clubcard Christmas Savers Scheme offers customers a bonus voucher of up to £12 when they save their Clubcard Vouchers towards their big Christmas shop. While our Toy Sale, launched this week, offers savings of up to 50% on kids favourites like Lego and Stickle Bricks, so that families can spread the cost of Christmas.

Tesco UK Chief Executive, Jason Tarry, said:
“We know times are tough for many customers right now, particularly as we head into the winter months. We hope this extended price-lock commitment gives our customers the certainty of knowing that over a thousand household favourites will stay at the same great price for months to come – helping them budget when they need it most.”

As well as helping customers, we’re today also announcing another major investment in our store colleagues – with the second hourly-pay increase this year, and a doubling of our colleague discount to support them this Christmas.

From 13 November 2022, the basic hourly rate of pay in our stores will increase by a further 20p to £10.30 (or £10.98 in London). This means hourly rates at Tesco will have increased nearly 8% this year – building on what was already a record single-year investment in store pay.

And on top of that, we’ll also be doubling our Colleague Clubcard discount to 20% during the key Christmas shopping period from 13-19 December.

This is just one part of our comprehensive package of benefits for Tesco colleagues, which also includes a recently enhanced selection of free food and hygiene products in the Colleague Rooms of our stores, so that colleagues can access a wider range of breakfast, lunch and snack items at no cost.

Notes to editors:

• Examples of products covered by our price-lock commitment include:

• Low Everyday Prices includes over 1,000 products across larger Tesco stores. Excludes Express. Prices locked until 03/01/2023. Look out for the Low Everyday Prices roundel in-store and online.
• A Clubcard is required to redeem Clubcard Prices offers included in Tesco’s toy sale.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.