Analysis from Profitero Price Intelligence confirms that Tesco has increased the price of its own-label bottled water during the UK’s worst heat wave in seven years. As the UK has sweltered in temperatures exceeding 30C, Tesco has raised the price of its everyday still water by as much as 41% since the beginning of July.
The UK’s largest supermarket has increased the prices of its most affordable still and sparkling water, as shown below in Profitero analysis. Up until 8th July, the 2 litre bottles of Everyday Value water were both priced at 17p before increasing to 24p on 9th July, a staggering 41% increase.
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| Tesco increased the price of its own-label bottled water by 41% on 9th July |
6x 500ml bottles of Tesco’s own-label Perthshire water were also shown to have seen an increase since the start of the heat wave, with its price changing from £1.40 to £1.48 on 6th July, representing a 6% increase.
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| Tesco has also increased the price of 6x 500ml of its own-label Perthshire water |
The price rises have taken place amidst fears of bottled water shortages, as the UK tries to cope with temperatures soaring above 30C. However Tesco’s rivals Asda, Sainsbury’s and Morrisons have all maintained their pricing of 17p for equivalent own-label bottled water.
Commenting on these price rises, Volodymyr Pigrukh, CEO and co-founder of Profitero said: “Whilst it’s obviously important for retailers to monitor changing demand for products and proactively adjust their prices accordingly, retailers also need to remain competitive in today’s tough economic climate to attract price sensitive shoppers. When Tesco’s direct competitors haven’t increased their prices, it may not make commercial sense for Tesco to do so given today’s aggressive grocery price wars.”
Monitoring the competition is increasingly vital for retailers to guarantee they get their pricing ‘right’ . To ensure you are attracting shoppers with the best value prices to drive loyalty and sales, contact us at sales@profitero.com.
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| Profitero: Web based competitor monitoring for retailers and brands |
About Profitero
Pricing intelligence company Profitero provides retailers with actionable price intelligence data, monitoring over 50 million products across 4,000 eCommerce retailers every day, observing pricing, promotions and stock availability. We work with the world’s leading retailers, enabling them to acquire new customers and grow profit margins by monitoring and responding to changes in competitor pricing and promotional activity as they happen. For more information on Profitero price intelligence and competitor monitoring, visit www.profitero.com or email sales@profitero.com