Morrisons Ramps Up ‘Price Crunch’ Campaign With Another 1,000 Cuts

Amid concerns that the Brexit vote could lead to higher food prices, Morrisons has announced another round of cuts as it strives to win back customers from the discounters.

The chain has lowered the cost of 1,045 products as part of its ‘Price Crunch’ campaign launched earlier this year. The cost of hundreds of core grocery and dairy items have been lowered by around 18%, along with reductions in toiletries, seasonal produce and British meat of up to 56%.

The referendum vote to leave the EU has led to concerns that grocery prices will rise as the fall in the value of the sterling pushes up the cost of imported products and ingredients.

Commenting on today’s price cuts, Andy Atkinson, Morrisons’ customer and marketing director, said: “We are constantly listening to our customers and know they are concerned about whether food prices will go up following the Brexit vote, especially on imports.

“Morrisons is unique as a food-maker and shopkeeper, and unlike the rest of the industry manufactures food, both in our own food processing plants and our 500 stores.

“We are British farming’s biggest supermarket customer, which means we can better control our prices, and this latest round of crunches demonstrates our commitment to offering the best possible value to our customers this summer.”

NAM Implications:
  • Meanwhile, a careful monitoring of price-cut items will reveal extent of import vs. locally sourced products…