Tesco Everyday Value range

The UK’s largest grocery retailer, Tesco, has announced that it is replacing its entire Tesco Value budget range with a new ‘Everyday Value’ brand, encompassing more than 550 products.

Tesco said the new brand, which had been developed following extensive customer research, would feature improved quality, healthier options and packaging improvements when compared with the previous Value range.

David Wood, Tesco UK marketing director said: "Tesco was the first supermarket to launch a Value range back in 1993, the blue-and-white striped brand giving customers a down-to-earth option.

"Almost 20 years on and an affordable quality range is more relevant than ever, but customer needs have changed.

"We have listened closely to what our customers want and Everyday Value will provide products that taste better, look better and are healthier – still at the same great price."

In terms of fresh produce, the Everyday Value range will include three kinds of pea, beetroot and carrots, which will be 100 per cent UK-sourced.

According to Kantar Worldpanel data, the supermarket own-label budget market is currently growing at 9.3 per cent year-on-year, with Tesco Value itself now worth an estimated £1bn in sales.