Morrisons has set a new target for its More loyalty card to be used in 70% of transactions.

The retailer had made “huge progress” in its loyalty offer, it told suppliers at it latest IGD trade briefing in Harrogate this week. Morrisons said the insights would be used to shape its offer for customers and how it works with suppliers.

The Morrisons More scheme was relaunched in May 2023 with a promise of a “radical” overhaul, featuring the latest personalised tech.

The Grocer understands that currently around 50% of transactions involve a More Card, but 70% would still lag more mature loyalty schemes such as Tesco, which in April reported 82% of transactions involved Clubcard.

Also at the briefing, Morrisons unveiled its latest thinking on price and promotions – and its ‘Trusted Value Pyramid’.

At its base was ‘Core Pricing’, with ‘Lower for Longer’ price cuts above that. The next level was ‘Core, Relevant Promotions’, with the second-highest level ‘Doorbusters and Wigigs’, which it described as the best offers at the best price. At the summit of the pyramid was ‘Stunners’ – described as “short, sharp footfall drivers”.

The Grocer learned that as part of the presentation, Morrisons said the recently introduced ‘when it’s gone it’s gone’ deals had started positively. The retailer is now understood to be asking suppliers for more ideas on offers.

Speaking at the event on behalf of Morrisons owner CD&R, advisor Terry Leahy said: “I want us to develop a strategic relationship based around creating value for our shared customer, one that’s planned and based on data, not transactional and short term.

“We have made huge progress with our More Card, which provides the foundation of customer insight that we can use when planning our business together. And above all we need a common agenda for growth.

”Finally I want to assure you as the owner of Morrisons, CD&R will continue to invest behind the business.”

Meanwhile, Morrisons CEO Rami Baitiéh hailed its Market Street proposition as a shining light.

“We are going to keep the DNA of Morrisons and yes we are going to continue to be the only supermarket with trained butchers, bakers and fishmongers in the stores,” he said.