The initiative, which the supermarket says is the first of its kind, compares the overall cost of a customer’s branded grocery shop against what it would have cost at Asda, Morrisons and Sainsbury’s. If the shop would have been cheaper elsewhere, customers will get the difference deducted off their bill immediately, both in store and online

The scheme will also price match against promotions at Tesco’s main competitors.

The move comes as new research revealed the extent to which price match vouchers – offered by some of the UK’s supermarkets – were failing to meet customers’ needs, with shoppers potentially missing out on hundreds of millions of pounds in savings each year.

According to the research, which explored the views of shoppers from across the supermarket spectrum, over a third (35%) of Britain’s supermarket shoppers have never used a price matching scheme in-store, rising to a staggering 80% online.

Almost half (48%) of supermarket shoppers said they forget to use the vouchers, while 16% said they lose vouchers before they can claim their savings.

Matt Davies, Tesco UK and Ireland CEO said: “Shoppers tell us price matching vouchers are a pain and don’t really help them. We all know it can be stressful and awkward when you have to rummage through your wallet to find a price match voucher.

“That’s why we’re ensuring that with Brand Guarantee customers will never lose out on their branded shop by getting money off their bill at the till.”

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