Sainsbury’s has said it expects to deliver growth in profit as it puts food and Nectar card at the heart of its ”Next Level Sainsbury’s” strategy for the next three years.
Sainsbury’s unveiled its new “Next Level Sainsbury’s” strategy which aims to build on the Food First strategy the retailer adopted in 2020. It will help take the grocer to the next level as it is “just at the beginning of rediscovering quite what this business is capable of.”
The retailer plans to continue to gain grocery market share “by bringing more of Sainsbury’s food range to more customers, becoming the first choice for food for more people, and continuing to attract more and bigger basket primary shoppers.”
As the supermarket delivered its first-ever Nectar price Christmas, it looks to build on its loyalty programme in the three years to 2027.
Sainsbury’s aim is to “build on Argos’s strengths in convenience and value” and “invest in our capabilities across technology and infrastructure and deliver another £1bn of structural cost reduction” across its business to drive growth.
First choice for food
Chief executive Simon Roberts said: “Our Food First strategy has delivered on its promise over the last three years, making Sainsbury’s a stronger business with a much sharper position on value and a major refocus on our innovation. Customers have recognised the progress we’ve made, as our market share gains have shown.
“Our Next Level Sainsbury’s strategy is about giving customers more of what they come to Sainsbury’s for – outstanding value, unbeatable quality food and great service. Thanks to our scale, our brand and our people, we are in a unique position to deliver for customers across Sainsbury’s, Argos and Nectar.
“We’re going to build on what’s driven our success since 2020. We’re determined to be First Choice for Food, ensuring more customers in more of our stores can enjoy more brilliant Sainsbury’s food. That means more space for our food offer, while still delivering the general merchandise products customers want from us. That way, not only will we find more ways to delight new and existing customers, we will also continue growing volume market share.
“While I’m proud of the progress we’ve made to date, we’re only just at the beginning of rediscovering quite what this business is capable of. By taking Sainsbury’s to the next level, delivering for customers and colleagues, we will also deliver enhanced returns for shareholders through a share buyback and committing to a progressive dividend.”