B&Q has invested £100m into price cuts across a swathe of core products in a bid to lure new shoppers and reduce its reliance on promotions.
The DIY giant said its new pricing strategy will offer shoppers an average 15% saving across its 2,000-strong tranche of price cuts..
The retailer has launched its reduced prices to coincide with its latest marketing campaign, ‘Do It For Less’.
As a result of the scheme B&Q will reduce its use of short-term pricing deals and multi-buy discounts.
The retailer has launched the scheme with price cuts across a range of summer DIY essentials such as lawnmowers and gardening equipment, with more price drops set to be unveiled later this year.
B&Q attributed its ability to reduce prices to the buying scale from being part of the Kingfisher group.
The DIY giant is in the midst of implementing its One Kingfisher transformation project, which has brought together buying functions across the group.
Commercial director Paul White said: “Our mission is to help people create good homes. To do that we need to make home improvement projects affordable all year round, and our 2,000 price drops and stable low prices across all of our ranges help do just that.
“People may enjoy hunting for the best deal, but at the end of the day there is much more comfort knowing that there’s one place where you can always get a low price.
“All customers want to have prices they can trust, and as industry leaders it’s our responsibility to look after their best interests by ensuring our customers get our most competitive price.
“We moved to everyday low prices in our kitchen range nearly four years ago, and with our investment of over £100m in our Do It For Less pricing strategy, we’re extending the clarity and transparency of that across many more of our products.
“This means customers can feel confident in the knowledge that they will always enjoy competitively priced products at B&Q.”