Waitrose puts £20m into latest round of price cuts

Waitrose has kicked of the tenth round of its New Lower Prices campaign in the past three years, lowering prices by an average of 11% across hundreds of fresh food items, ambient lines and household products.

The upmarket retailer said this week it was pumping a further £20m investment into the price-cutting campaign, which it first launched in 2023. During its previous round it also invested £20m as it cut the prices of around 160 own-brand lines in May.

Overall, since the campaign kicked off, Waitrose has cut prices on more than 1,000 products and invested £180m.

Waitrose insisted the price reductions would not come at the expense of its sourcing standards, such as its pledge to only sell free-range eggs, milk, cream and fresh pork, as well as its membership of the Better Chicken Commitment.

In the latest move, more than half (56%) of the reductions are in the Essential Waitrose own-brand range.

It also includes cuts of more than 20% on items such as porridge oats, bread, orange juice, potatoes, rice, apples and tomatoes.

Waitrose said that following the last round of cuts in May, the reduced-price items saw an average sales increase of 4%.

“September is a reset moment for households across the country. As families get back to their regular routines, we know customers are looking for ways to make their weekly shop work harder for their budgets,” said Waitrose chief customer officer Nathan Ansell.

“That’s why we’re investing £20m to lower the price of more than 370 everyday products, from breakfast and lunchbox staples to the ingredients people rely on for family meals.

“For Waitrose, great value has always meant more than simply a low price. It means exceptional quality, responsible sourcing and market-leading animal welfare too. We’re making everyday food more affordable while maintaining the standards our customers expect from us.”

Price-cut examples from this week: