Tesco take the credit crunch head-on

We've been lucky enough to work with Tesco this year. What a company. They really are unrivalled in their ability to understand AND act on customer insight. And their action is faster, deeper and bigger than the competition.

Take Tesco.com's response to the credit crunch. They are pro-actively helping shoppers find cheaper alternatives to shave pounds off their shopping basket. For each item on your shopping list you are prompted to consider a cheaper alternative. If its your favourite brand, you might decline the suggestion. I'd stick with Heinz tomato ketchup thanks, even if its a bit more pricey. But what about where you are less loyal, and brands are less strong?

Here's the online ads being used to promote this service:

The service is also being promoted via TV advertising.

As our research into "Recession-Proof Branding" is showing, we're in a "Darwinian" period for brands. The strong ones will survive, and may even thrive. But the weak ones have a hard time ahead. Tesco is simply helping the process of extinction happen faster.

Comments

[Anna]

Mark, your daughter is a lucky litlte girl! My father taught me my first guitar chords when I was 10. Music is a great way to connect with kids I play with/for my 3-year-old niece every time I get the chance.Keep me posted on how it's going welcome to the guitar!Best wishes, Lisa

[Rika's Home Gym News]

This is a great idea. I have just read an article about how the market for no-name products has developed over the last few years. It is super if consumers are helped to make smarter money choices. This is something that is really needed right now.

[David Taylor (brandgym)]

NWGuy, Great idea to take it in-store as well. I think Sainsbury's have done something like this by having 2 shopping baskets at the entrance to the store, one brands, one own-label, and a sign with the price saving!

Tough times for brands eh?

[NWGuy]

They could extend this to an instore promotion. Send the barcode or text the product number to a short code and receive back an SMS with the alternatives.