Sainsbury’s has introduced lower prices for customers subscribing to its Nectar Card loyalty scheme as part of an effort to take on rival Tesco’s proposition, Clubcard Prices.
Nectar Prices give customers promotions of up to 50% on more than 300 items, spanning from household products to confectionery.
Shoppers who use SmartShop by Sainsbury’s will also be offered personalised discounts through the Your Nectar Prices offer, giving customers up to 30% off products bought regularly.
The grocer stressed that it is the “only” retailer offering this combination of price reductions through its loyalty proposition.
Customers will still also be able to utilise the Nectar points system.
The scheme issued its 1 trillionth point in December, marking over £5 billion in point reductions being issued to 18 million Nectar customers.
Last year at least £220 million worth of points were issued, the supermarket claims.
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Sainsbury’s CEO Simon Roberts says Nectar Prices will help “millions” of customers save money.
“Our customers really are at the heart of every decision we make and we hope they find that Nectar Prices is an exciting way to bring them consistently great value all year round,” he told Marketing Week.
In December, the grocery giant promised to invest £50 million in keeping prices low over the first quarter of the year, bringing the total the supermarket has invested into dealing with the cost of living crisis to £550 million.
Roberts told investors in January that the company had seen fewer consumers switch to discounters Aldi and Lidl over Christmas than its supermarket competitors, crediting its “bolder” approach on value, innovation and service for the success.
