Morrisons kicked off the reign of new CEO Rami Baitiéh today with its tenth round of price cuts this year.
The former Carrefour boss took over in the Bradford hotseat from outgoing CEO David Potts today, having been announced as his replacement in September.
Morrisons, which has faced an ongoing battle to regain price competitiveness with the discounters and its fellow supermarkets, said it was cutting the price of 58 popular festive items, including stuffing, roast potatoes, cranberry sauce and tin foil.
The supermarket is investing more than £4m to cut the price of the products by an average of almost 20%.
It said the the items had all been chosen because they were particularly popular at Christmas last year – with an average uplift in sales of over 90% throughout the festive period.
It added the total price of all 58 items in Morrisons festive basket was nearly £2 cheaper than the same basket of items would have cost in Christmas 2022, despite inflation.
It said the prices would be held for at least eight weeks and form part of the commitment Morrisons has upheld since January to always have over 1,000 prices lowered and locked each week.
“We know that Christmas is an expensive time of year and that our customers are having to make tough choices about what to put in their baskets,” said Morrisons chief customer and marketing officer Rachel Eyre.
“We are working hard to help them when it comes to their festive grocery shopping and want to protect them from rising costs so despite the significant inflation we have seen over the last 12 months, our basket of 58 festive items is cheaper than it was in 2022.”