Tesco is hoping for a slice of the action in the discount store market with a new low-cost range, to include bakery products.

The supermarket undertook research earlier this summer, quizzing 20,000 people and found that UK consumers’ top concern is price.

In response to this Tesco is aim to cut its average shoppers’ bill by £24 per week. A range of 350 new products will be introduced under the Discount Brands at Tesco label.

“As customers tighten their belts, they tend to shop around for the best prices,” said Richard Brasher, Tesco commercial director. “Our research shows just how keenly they are feeling the need to watch their budgets.”