So...the UK's biggest supermarket is opening a new discount brand to rival the likes of Aldi & Lidl.
Tesco is trying where others - like Sainsbury's - have failed in the Discounter Channel and I for one am very interested to see how it works out for them.
Reports indicate that up to 60 sites have been identified for the new venture - with one opening in Cambridge this week and another in Lincoln to follow, before a larger roll out next year.
I have to say however, they could have thought of a better name. Although the idea of naming it after their founder Jack Cohen means they are trying to keep it in the family, 'Jacks' doesn't really go with the whole discounter idea. A discounter sells itself on it's low low prices but you use a 'Jack' to raise things up. Then, of course, there is the whole "Jack the Lad" piece - hardly a concept that a grocer wants to be associated with.
However, that aside, I personally think that this could work for Tesco as long as they distinguish themselves from the Grocery Format Stores and are competitive with price - as let's be honest, we go to these stores with the idea of maybe coming out with some groceries as well as a new pair of slippers from the middle aisle - if you know, you know!
Will it fly? We shall see...
Tesco is stepping up its fightback against Aldi and Lidl with the launch of its own cut-price chain, Jack’s. The first store has been unveiled by the Tesco chief executive, Dave Lewis, in the small Cambridgeshire town of Chatteris. The public will get their first chance to shop at Jack’s on Thursday morning when the store opens, along with a second outlet in Immingham, Lincolnshire.