Waitrose is extending its programme of price cuts, as part of efforts to demonstrate value during the cost of living crisis.
From Wednesday (13 September) the retailer will lower the price of 250 lines, including maris piper potatoes, whole chickens and red leicester cheese. It is the third and final tranche of planned cuts this year as part of a wider £100m investment in value announced in February.
During the first wave in February, Waitrose cut the price of 300 own label products, the majority from its Waitrose Essential value range. It followed up with a further 200 summer products including ice creams, chicken thighs and honey in June.
The latest wave will focus on “autumn products” including six Essential Waitrose British seasonal apples, which will fall by 15% to £1.70; eight Essential Waitrose pork sausages cut from £2 to £1.80, and Waitrose Essential Penne pasta reduced by 21% to 75p.
“Giving our customers good value for money is a priority and we continue to work hard to keep our prices low, whilst maintaining our quality and supporting our fantastic farmers,” said Waitrose commercial director Charlotte Di Cello.
“We’ll continue to deliver our market leading quality, using our outdoor-bred pork, responsibly sourced fish, higher-welfare chicken and Leaf marque-certified British fruit & veg. The only thing that’s changing is the price, so customers can enjoy great value with no compromise.
“As well as lowering the prices of hundreds of products, we’re also passing on additional savings to our customers when the prices we pay fall due to food inflation dropping. We’ve already lowered the prices of dairy products, household goods like toilet paper, and canned vegetables as a result of inflation falling on those items.”
Waitrose has seen its market share and sales fall during the cost of living crisis. It currently has a 4.4% share of the UK grocery market, according to latest Kantar data from July. At the start of 2022, it was more than 5%.
The price cuts have been heavily advertised in stores through PoS signage, checkout wraps and window displays, as well as a wider integrated marketing campaign with the strapline ‘New Lower Prices’.
Alongside the price investment, Waitrose has also been rolling out new meal deal propositions into stores. As revealed by The Grocer in August, it includes a £5 lunchtime meal for the first time.
The John Lewis Partnership is set to publish its half-year financial results on 14 September.
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