Supermarket chain becomes latest retailer to slash prices in bid to entice value-conscious consumers.
Tesco has unveiled the launch of a 350-strong range of products and announced further price cuts across the board.

The new range, according to The Grocer, will feature two new lines; Market Value - a fruit and veg line; and Discounter - to include dry goods, frozen food, dairy and health and beauty products.

It will also slash the prices of hundreds of existing Tesco and branded products, from groceries, to its range of home basics, including homewares and small electricals.

The move follows customer research conducted earlier in the summer, which revealed that price is now the number one priority for shoppers.

Tesco also hopes that it will help it to compete with the likes of Aldi and Lidl, which have seen notable sales increases as thrifty consumers endeavour to make their money go further.

The news comes days after Asda announced over 5,000 price cuts instore to help 'ease the burden on cash strapped shoppers'.

Asda ceo Andy Bond said: "When I talk to customers they tell me that they're really worried about how to make ends meet and they look to supermarkets to help them."

Another retailer keen to woo customers on a budget is Argos, who is now offering four year's interest-free credit on furniture.

The multi-channel retailer, owned by Home Retail Group, has launched its first 'Home event catalogue', which will feature 200 half-price offers.

A spokesman for the company said: "This is the first time Argos has produced a seasonal catalogue with a focus on value for our customers through a seasonally relevant product mix."

He added that the four-year interest-free credit offer, "is a first for Argos and demonstrates our commitment to ensuring customers can remain confident about purchasing the products they desire."