Ocado Retail has rolled out its sixth round of price cuts since June 2023 as it continues a drive to improve its competitiveness and broaden its appeal.
The latest ‘Big Price Drop’ covers 450 products, including branded, own-label, and M&S lines, with an average reduction of 17%.
Items featured in the campaign include Birds Eye Garden Peas (down 18%), Cadbury Fingers Milk Chocolate Biscuits (down 11%), Hellmann’s Mayonnaise (down 16%), Nescafe Gold Smooth Instant Coffee (down 31%), Heinz Baked Beans Snap Pots (down 24%), and M&S Whipped Soft Creamy Cheese (down 9%).
The online retailer stated that the reductions would allow customers to “shop more of their favourite items for less”.
The move comes after Morrisons announced yesterday that it was lowering the prices of over 2,000 products for members of its More Card loyalty scheme.
Ocado has been the fastest-growing grocer in the UK for the last six months (Kantar) after moving to shed its image as an upmarket supermarket and become more accessible to a broader demographic.
In an interview with The Sunday Times last month, Ocado Retail’s Chief Executive Hannah Gibson said: “We were perceived as expensive. We needed to address our prices. We did need to bring them down, and we have done that over the last 18 months.”
NAM Implications:
- A search for price levels that will ‘guarantee’ growth…
- Or preparing retail for a split into Retail and Tech?
- Watch this space..!
