Tesco Launches New Budget Supermarket Jacks

In a bid to take on its budget competitors such as Aldi and Lidl, British supermarket chain giant Tesco has launched a new budget supermarket chain, Jack's, in England. The first store opened in Cambridgeshire this month, with prices said to be cheaper than its German rivals.

Around 10 to 15 stores are planned for new locations, situated next to existing Tesco stores, and a small number of converted Tesco stores. Jack's stores will sell 2,600 products - far fewer than the 35,000 carried by a Tesco supermarket - with 1,800 branded "Jack's".

The market research already carried out into the comparisons between the budget retailers suggests that there will be little impact on Lidl and Aldi's operations due to their already firm footing in the market, paired with Jack's very small footprint on the market with two stores currently, compared to over 1,300 Lidl and Aldi stores around the country.

It is, however, one of the first big steps by the major supermarket chains to challenge the market share of the European budget chains that have continued to gain ground in the UK year on year.

Why "Jack's"? The original founder of the chain Tesco was called Jack Cohen. Simple.

Find out more about Jack's on its website here.