Morrisons has fired the opening shot of a summer supermarket price war by announcing cuts worth more than £30m.
The retailer is slashing prices on more than 3,000 lines for its Big Price Crunch Week promotion, which it claims will reduce the cost of an average weekly shop by 11%.
The £32m promotion comprises ‘Better than Half Price’, half-price, round pound and bogof deals.
Kay Staniland, MD of Assosia, said the promotion marked a break from the norm for Morrisons’ promotional strategy.
“Traditionally, Morrisons tends to lag behind Asda and Tesco when it comes to price wars,” she said. “This could be an attempt to steal a march on the competition.”
Retail Prices: Promotional activity gets Easter hike - even at Asda (10 April 2010)
Grocer 33: Morrisons £4 cheaper than nearest rival (27 March 2010)
Sainsbury’s to keep heat on promotions (20 March 2010)
Price Crunch out, World Cup bid in at Morrisons (27 February 2010)