Matalan has pledged to help families amid the ongoing cost-of-living crisis as it invests £35m in lower prices on more than 700 products.
Prices across included products are being slashed by an average of 15% across the fashion retailer’s core categories and new lines of “everyday family essentials”, which will apply both in store and online.
For example, the price of women’s hoodies will be cut from £15 to £12.50, while bedding sets will be reduced by £3 across single, double and king sizes.
Matalan said it has unlocked price cuts through a “more collaborative” buying and sourcing strategy, as well as by passing on the reduction in input costs to customers as inflation falls.
The fashion retailer added that the announcement is an example of Matalan’s progress under the leadership of chief executive Jo Whitfield as she continues to “drive efficiencies” and “improve ranges” for shoppers.
Whitfield said: “The start of the year is always a tough time financially and this year, given how difficult 2023 was for so many families, it’ll be harder than ever.
“So, for 2024, we want to start the year off differently. We’ve unlocked efficiencies at a time when inflation and input costs are starting to fall, enabling us to pass these savings on directly to our customers – bringing down the prices of new and existing lines of everyday essentials and favourites across all our key categories.
“It’s all part of our mission to build a stronger, more modern Matalan that brings families a better choice of quality clothes and homewares at great prices.”