Morrisons is stepping up its efforts to win back customers from the discounters, announcing another round of price cuts.
As part of its ‘Price Crunch’ campaign, the supermarket group said today it was reducing the cost of 847 products, with an average cut of 20% on every day grocery items such as bags of sugar, rice, and cereals. Morrisons launched its ‘Price Crunch’ initiative back in February, cutting the price of more than 1,000 items.
Andy Atkinson, Morrisons’ Marketing and Customer Director, commented: “We continue to listen hard to customers who say they want lower prices on staples and everyday family essentials. We are continuing to cut every price we can, as we make Morrisons even more competitive and improve our customers’ shopping trip.”
Morrisons is due to release first quarter trading figures on Thursday. The group posted its first quarterly like-for-like sales growth in four years during the fourth quarter of its last financial year, edging up 0.1%. Analysts are expecting the chain to post broadly flat like-for-like sales this week with management highlighting the progress the business has been making in improving its offer and competitive position.
- 1,847 SKUs should overlap with most of the discounter ranges….
- …and hopefully win back some business from Aldi & Lidl…
- However, the issue will be how to compete with other mults, on brands…