Hundreds queue as Tesco opens first budget supermarket Jack’s

Hundreds queue as Tesco opens first budget supermarket Jack’s

Hundreds queue as Tesco opens first budget supermarket Jack’s

The first two Jack's stores will open to shoppers on Thursday, with another 10 to 15 following in the next six months as Tesco copies the tactics of the German discounters, whose limited-range stores have won over increasing numbers of British shoppers since the economic crisis hit in 2008.

The Chatteris store enjoyed a successful first morning, right, with hundreds pouring through the doors at 10am to be greeted with champagne, bacon sandwiches and cupcakes. A second outlet opened yesterday in Immingham, Lincolnshire.

The Real Junk Food Project opens in WakefieldIn 1919, Tesco's founder Jack Cohen started selling armed forces surplus stock from his market stall in Well Street, Hackney.

As part of the Jack's store presence, Tesco also will launch Jack's branded goods, a unique range of staple food items that presents shoppers with quality and value.

Shares in Tesco were up 0.5 percent at 236.3 pence in late trading on London's benchmark FTSE 100 index, which was half-a-percent higher overall.

According to a company release, Jack's will operated a "low-cost business model" which, Tesco said, is created to keep costs low and prices down.

Tesco's no-fuss approach is also a strategic move by the United Kingdom retailer to keep those cost prices down, in an effort to compete with discount stores such as Aldi and Lidl.

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Jack's is not the first attempt by Britain's mainstream grocers to crack the discounter market.

The store will sell 2,600 products, with 1800 branded under the Jack's label itself.

"It's fitting that today, we mark the beginning of Tesco's celebration of 100 Years of Great Value by launching a new brand bearing his name: Jack's".

Today, Tesco is Britain's biggest grocery retailer with a share of 27.4%, while Aldi and Lidl have a combined share of 13.1%, according to data from Kantar Worldpanel. "Great-tasting food at the lowest possible prices with 8 out of 10 products grown, reared or made in Britain".

Mr Lewis admitted that staff at Jack's would not be paid the same as employees at Tesco stores, but would instead be on "more of a base-rate pay".

"Tesco will have to find a way to attract customers from the likes of Aldi, Lidl and Iceland, rather than convert existing Tesco customers into discount shoppers through brand association", he said. But, it seems, another way to beat the discounters is to play them at their own game.

The tie-up between Tesco's two nearest competitors, which regulators said would be scrutinised in depth, is also driven by the rise of the discounters.

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