Morrisons launches third wave of price cuts this year

Morrisons has launched its third wave of price cuts so far this year, in a £25m move to improve the competitiveness of its offer.

The latest round has seen the supermarket slash prices by an average of 19% on products such as salad vegetables, carrots, potatoes and cupboard essentials including coffee and rice.

The move follows cuts across more than 800 products last month, and a further slashing of 130 of its Saver products lineup at the start of the year.

In the past six months, Morrisons has invested £148m to cut the prices of popular, essential and entry-level products.

Last month, CEO David Potts complained that Morrisons had been at a disadvantage in keeping down prices because of its vertically integrated supply chain, though he said it was having “robust” conversations with suppliers.

Sales fell 4.2% year on year in the 52 weeks ending 30 October 2022, with the supermarket blaming high food inflation and continued upheaval from the war in Ukraine.

Morrisons has also invested in major advertising campaigns to plug its price cuts and Savers range, as well as running two petrol promotions in a bid to encourage shoppers not to switch to the discounters and rival mults.

The latest offers, which also includes products such as ice cream, lemonade and cream, are available in all of Morrisons 498 supermarkets, with most also online.

“We are just seven weeks into 2023 and already this is our fifth significant price activity of the year,” said Potts.

“These latest price cuts follow hard on the heels of two notable in store price cuts involving well over 1,000 products, and two strong fuel promotions, demonstrating our determination and commitment to make a positive difference to our customers’ pockets.”

Morrisons cut the price of own label beetroot slices, Persil non-bio laundry detergent and chicken breasts last week, according to The Grocer’s Key Value Items tracker.