Littlewoods Home Shopping is slashing nearly£70 million from prices of goods ordered from its agency and direct catalogues.
The campaign, the Low Down price bonanza, is being communicated to shoppers via a new monthly customer newspaper, Littlewoods News.
Agency title Littlewoods All-Inclusive has been rebranded Littlewoods Even More, and£60 million will be ploughed into lower prices this year.
A further£8 million is being shaved off prices in direct title Littlewoods Extra, now renamed LX.
'It is very simple - to grow the agency business we have to be more competitive,' said Littlewoods chairman David Simons.
Separately, the Barclay brothers, who are merging the Littlewoods business with the former GUS home shopping arm, Shop Direct, on Tuesday announced plans to close call centres in Widnes and Leeds, as well as a returns centre in Bolton, affecting more than 1,000 jobs. The integration of IT systems is also likely to result in job losses.