Jiffy is responding to the cost of living crisis by pledging to price-match more than 150 products available on Tesco’s online store and discount a further 460 lines.
The firm is one of several rapid delivery grocers that are expanding across the UK and prompting traditional supermarket groups to rethink their business models.
The Tesco.com price match promise, alongside with the discounting, means that up to 25% of Jiffy’s total range will be “offering customers better value for money”. Jiffy’s dark stores that service the deliveries typically stock around 2,000 SKUs.
The firm noted that price cuts announced by Morrisons this week only impacted around 6% of its total sales volume.
Jiffy’s price matched items will be branded items across all categories. For example, Heinz Tomato Ketchup will cost £1.75, while 1L of Semi Skimmed Milk will be £0.84 and Oyster Bay Sauvignon Blanc will cost £10. The 150 selected products will be price matched against Tesco.com every week, although the comparison excludes Clubcard offers and promotions.
Jiffy’s buying director Justin James commented: “We are seeing the highest rise in inflation since 1992 and as a result the cost of living is having a devastating impact on households across the country. We are responding by offering savings across a quarter of our range and have chosen to price match Tesco.com because we want to allay any misconceptions that fast delivery should come at a cost to consumers.”
Jiffy highlighted that it has seen a significant increase in ‘planned buying’ as customers begin to use its app to stock up for the week ahead, broadening its appeal beyond ‘impulse’ purchases.
NAM Implications:
- Another challenging KPI added to rapid delivery…
- (i.e. on top of speed of delivery)
- Thereby raising the profitability bar for all…
- Watch this space!
