Marks & Spencer has reduced the prices of 65 “shopping list essentials”, bringing its investment in lower prices to £30m this year.
In the latest round of reductions affecting its Remarksable Value, Dropped & Locked and Bigger Pack, Better Value ranges, the retailer has cut prices of products such as salmon fillets, beef mince, free-range eggs and tomato ketchup “while maintaining the M&S quality customers know and trust”.
Marks & Spencer maintained: “Unlike other value ranges, this is not entry-tier food with reduced quality to make it cheaper, this is the same M&S high-quality food with a lower price. This is made possible because M&S has invested to bring the price down with long-term supplier partnerships through its own brand approach.”
Grocers across the board have been investing in price as many shoppers continue to shoulder a cost-of-living burden.
M&S Food managing director Alex Freudmann said: “As we double the size of our food business, we are continuing to invest in quality and price to bring the best food to our customers. These price reductions across key family favourites are all part of our commitment to help our customers to eat great tasting food every day, without compromise. This is another step on our transformation journey as we reinvest for growth.”
The retailer said that investments in lower prices of staples have helped lift family perception of value for money of M&S food by 10 percentage points.
No comments yet