Supermarket giants Tesco, Sainsbury's, Morrisons, and Lidl are under the microscope as the Competition and Markets Authority (CMA) delves into thousands of loyalty price promotions to determine if customers are truly getting a fair deal. The CMA's ongoing investigation is scrutinising whether the regular prices have been hiked to make loyalty scheme offers seem more appealing.

While the watchdog has yet to conclude its analysis, early indications suggest that there may not be widespread deception in these promotions. This could mean that the major players in the supermarket sector might sidestep any serious backlash when the final report drops in November.

However, the CMA isn't closing the case just yet; it's taking a closer look at how retailers switch between loyalty prices and "was" and "now" discounts, raising concerns about the authenticity of the savings being flaunted to consumers.

The CMA is delving into whether consumers truly believe in the authenticity of savings and the extent to which they shop around for better deals.

Helen Dickinson, the head honcho of the British Retail Consortium, expressed her approval of the CMA's preliminary findings, which indicate an absence of "widespread evidence of misleading loyalty promotions".

"Whether it's everyday value, or loyalty schemes discounts, retailers know they have to demonstrate clear value to attract and retain customers," she remarked.