Cash prices in major stores and online are falling as retailers seek to curb inflation and attract customers.
The prices of Aldi, Lidl and Tesco gift cards, which offer discounts of up to 20% on all other items, have been slashed by about 8% over the past two months, according to data compiled by data firm eMarketer.
While Aldi’s gift card fell 7% to Rs 3,800 on December 3, the same figure was less than Rs 2,000 in December.
Lidl’s gift cards also fell by around 10% to around Rs 1,800, while Tesco’s was down around 15%.
Aldi, the world’s largest retailer, is now offering discount cards worth Rs 7,000 for people in its “Gift Card Plus” package, while Lidls new “Crown Collection” card, which offers a 10% discount, has been available for some time.
The retail giant said the new cards, designed to appeal to younger shoppers, would be rolled out by the end of this month.
“The new cards are designed to give customers the best value for money, and are designed with the aim of creating a better shopping experience for our customers,” Aldi said in a statement.
Tesco also announced plans to offer its Aldi card to those with an annual salary of more than Rs 100,000, with the offer starting on December 11.
Tesco said that its Aldis gift card would not be affected by the announcement.
“As a result, we will continue to offer Aldi cards, and will continue working to support Aldi customers, and customers who earn a salary above Rs 100k,” the company said.
The rise in discounts has been driven by an increasing number of retailers offering discounts for “Cointelegraph’s” Prime membership, an offer that allows customers to buy a membership to their favourite brand, including Aldi.
The discount offers come in a time of increasing competition in the sector.
Lidll slashed its price of its Aldid gift cards by up to 30% last month, while Aldi lowered its prices of its “Cancel Card” cards by 20% to save on “Catch and Crop” items.
This means that if you want to spend less than 20% of your salary, you can get the full value of your savings on the items in the Aldi catalogue, but only with the Aldis “Cure Card”.
Tescom also reduced the price of all its Aldises gift cards to Rs 2.50 from Rs 3.50, but the discount is still available to those who buy at least Rs 10,000.