Morrisons slashes prices by up to 56% to see off Aldi & Lidl
Morrisons has begun a rear-guard battle to win back customers who have deserted it in favour of cheaper rivals by slashing the price of eggs, bread, butter, coffee, milk, pasta, sugar and juice by as much as 56 per cent.
Across the board price cuts will affect 130 own-brand and branded staples with the average reduction weighing in at 22 per cent.
Stressing that the price shifts were long-term reductions and not short-term promotions Morrisons marketing director Nick Collard said: “The price cuts we have now made across products that customers buy week in, week out, are making a real difference to the cost of the weekly family shop.”
The biggest single saving, proportionally, can be found in the form of Morrisons own brand egg and spinach taglietelle, which has been reduced in price by no less than 56 per cent.
Downward pressure on prices has been building in recent months following a collapse in commodity prices and fierce competition at the budget end of the grocery market with both Aldi and Lidl growing their market share.
In December food prices fell 1.9 per cent in Britain, the largest such fall since June 2002.