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Tesco price cuts – is it all good?

Diarmuid MacShane

May, 2009

Diarmuid MacShane

Tesco Price Cuts

We’ll all have been delighted to hear this week that Tesco have dropped their prices in stores close to the border. In 11 of these stores, prices will have dropped by 22% on average – permanently according to Tesco themselves.

It’s just a pity that Tesco haven’t done the same across all their Irish stores.

But then again, most of the Irish Tesco stores weren’t losing business to Asda and Sainsburys in Newry and other Northern Irish towns.

So, when you hear Tesco telling us that they’re dropping their prices in the interests of the Irish consumer, you should really know that it’s because those 11 stores were losing huge amounts of business – and as I’ve always said should happen, when business start losing money, they’ll either drop their prices to attract customers back, or else they’ll close down.

Many stores have closed down recently, so it’s good to see Tesco trying something else.

My only concern now is that we’re unlikely to see these price cuts implemented across the country – unless we consumers use our buying power to let them know we’re not happy with the prices their charging everywhere, and not just close to the border.

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