Asda has promised to cut the price of 3,000 products and is handing consumers "thank you" vouchers, while the 'Morrisons Millions' campaign, which launched at the weekend, promises to give away £300 a day in every Morrisons store until the end of the month.
The Asda "thank you" voucher is worth £5 and will be given to customers when they spend £40 or more this week. Consumers can redeem the £5 when they next spend £40 or more.
Morrisons Millions is giving away £2m in total prize money and is claiming to be the "UK's biggest supermarket cash giveaway ever".
Shoppers will be entered into a daily draw everytime they spend £1 in a Morrisons store. Everyday until 30 October, three winners from each store will win £100. Entrants must check the numbers on their receipts after 8am the next day to see if they have won.
The TV campaign for Morrisons Millions broke during 'The X Factor' on Saturday night.
The offers follow a spate of price-cutting initiatives from top supermarkets. At the start of October Waitrose made a £19m commitment to match Tesco's prices, in preparation for its biggest value campaign to date.
In September Tesco announced it was slashing the prices of 3,000 products as part of its 'Big Price Drop' campaign, a week after Sainsbury's released its 'Live Well for Less' positioning, pushing its value message. Sainsbury's later introduced its 'Brand Match' promise.
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This article was first published on marketingmagazine.co.uk