Sainsbury's is to end its Brand Match pricing strategy in favour of lower regular prices on key products.
The supermarket giant said it had found that cheaper prices across the board mattered more to customers than strategies such as Brand Match, and reassured shoppers that all the money it saved would be "wholly reinvested" in lowering the cost of an everyday basket.
This will include basics such as chicken, bread, cheese, fresh produce and household cleaning items.
The scheme was introduced in 2011 and gives shoppers money-off vouchers if they could have bought branded goods cheaper at Asda.
Sainsbury's marketing director Sarah Warby said: "Customers have told us that they want lower regular prices, and that this is more important to them than Brand Match.
"We've taken this on board and will now be investing all of the money from the scheme into lowering the regular prices on everyday products."
The last Brand Match coupons will be issued on April 26.
The move comes as consumers' habits change to buying little and often, with a shift away from the single weekly grocery shop, meaning that fewer baskets contain the 10 items needed to qualify for Brand Match.
Sainsbury's, which is currently the best performer out of the Big Four grocers, recorded a 1.2% sales growth in the most recent quarterly figures from Kantar Worldpanel, despite its decision in February to end multi-buy and buy-one-get-one-free promotions.
Several supermarkets have been reviewing their price-matching schemes as they manoeuvre through a fierce price war spurred on by growing competition from discounters Aldi and Lidl.