Waitrose lower prices

Source: Waitrose

The new promotion covers more than 200 own label products

 Waitrose has launched a second round of price cutting this month.

The upmarket supermarket said it had this week cut the price on more than 200 own label lines by an average of around 15%.

The latest reductions cover its most-popular, everyday own brand SKUs such as fruit and veg, meat and cleaning products. It includes Essential Waitrose thin pork loin steaks for £2.50 from £5, Waitrose Fairtrade gold tea (160 bags) for £3 from £4, Essential Waitrose frozen whole leaf spinach for £1.20 rather than £1.60, and Essential Waitrose pure clear honey at £1.60 from £2.25.

Around half the prices lowered are from its Essential Waitrose range, which has seen a sales uplift of close to 10% since the onset of the coronavirus crisis.

The retailer is accompanying the initiative with a marketing campaign to communicate it to customers in stores, on Waitrose.com and via social media.

It comes on the back of a two-week Priced to the Pound promotion in which Waitrose dropped the price on 100 branded lines by up to 50%.

“This year has been incredibly challenging for consumers and we know times are tough for many, so we’re reducing prices to provide our customers with great value on the items they buy most,” said James Bailey, executive director at Waitrose. “Despite offering lower prices - we’re maintaining the quality, high welfare and ethical sourcing that we’re renowned for, so shoppers can spend less without compromising on what they value.”

The retailer said the move was part of the John Lewis Partnership’s turnaround plan revealed last week, which included a pledge to give affordable quality to customers, enhance its online offering and bring its Waitrose and John Lewis brands together. It is designed to convert its first-half loss of £635m into annual profits of £400m within the next five years.

The industry is seeing increased amounts of discounting currently. This week the Co-op also cut the price of 300 lines, while Tesco, Sainsbury’s, Asda, Morrrisons and M&S have all carried out major pricing moves in the last couple of months.