Tesco has taken out double-page ads in prime slots across the newspapers this morning to promote a series of price cuts, as most supermarkets prepare to announce their latest financial results this week.
The ad blitz comes as Morrisons also embarks on a series of price cuts, with the price of 935 products reduced by an average of 20%. Andy Atkinson, group customer and marketing director at Morrisons, said: "We’re listening to customers who are telling us that their budgets will be stretched in January, so we are cutting every penny we can on the essentials that will help them feed their families."
Tesco, Sainsbury's and Morrisons are all set to announce quarterly financial results this week, along with Waitrose and Marks & Spencer.
Analysts expect the results to show all five struggling to maintain their market share as Aldi and Lidl continue to grow. Asda, the last of the big four supermarkets, does not announce quarterly results due to its ownership by US retail giant Walmart.
The Tesco ads appear on pages two and three of The Sun, the Daily Mirror and City AM, and further into the paper in the Daily Mail and Daily Express. Tesco has also taken a strip ad on the front page of The Sun and the Mirror. The work was created by Bartle Bogle Hegarty and media was handled by MediaCom.
Featuring a disco-clad shopper on roller skates, they flag up a series of products available this month at half price, along with a logo highlighting the 100th anniversary of the company this year. Founder Jack Cohen began operating market stalls in London in 1919, although the Tesco name was not used until 1924.
Sainsbury’s also celebrates a big birthday this year: it is 150 years since founder John Sainsbury opened his first shop on London’s Drury Lane.
Asda is the only other supermarket to advertise in today's papers, with half-page ads in The Sun, the Mirror and the Mail.