Morrisons is targeting payday wage packets with bulk buy offers.

Chief executive Dalton Philips said one third of shoppers at the UK’s number four supermarket “do not have any money at the end of the month” and the retailer has benefitted from planned promotions at the start of the month following payday.

Philips said Morrisons is aiding bulk purchases of alcohol and meat to be frozen with half price promotions at the start of the month and looking at single unit deals at the end of the month.

Philips said: “We have seen a real spike in sales when people have cash in the last six months and we are targeting them with our Payday Price Crunch.”

Group financial director Richard Pennycook praised the Bradford-based retailer’s “phenomenal” ready meal performance. The category has seen a 60% uplift in sales largely attributed the launch of its M Kitchen range, which has been given considerable shelf space, four weeks ago.

The supermarket reported a 2.4% like-for-like sales increase excluding fuel for the 13 weeks to October 30 today.

Philips said basket size had grown at Morrisons and it has a “very strong Christmas [promotional] programme”.