Tesco reviews its wine business
Tesco has been reviewing its wine sales strategy and announced that they will be taking a leaf out of Aldi and Lidl's wine pricing model after the 2 supermarkets have successfully won a considerable amount of the wine market share. This week sees Tesco's reduced wine range being introduced in store which has been cut by 27%. Their pricing strategy has become more stable with less discounting and some of the wines have been lowered in price from £6.99 to £6. Selling wines for £5 and under in the UK is becoming increasingly unsustainable, but still 200 of Tesco's wines will come in at this price point. The reduction in range has been taken from every country not just the poorest performing countries in the range. The Tesco Finest range will continue with revamped branding. Graham Nash product development manager said they will not only offer firm favourites within the range but will also seek to introduce consumers to exciting new styles.