Morrisons is to slash the prices of nearly 900 products by some 20 per cent, it has announced, as part of its ‘Price Crunch’ campaign launched in an attempt to win back some ground lost to discount retail brands Aldi and Lidl.
Morrisons rolled out the ‘Price Crunch’ initiative in February when it cut the price of more than 1,000 branded and own-brand products. It was a surprise marketing move at the time following months of the grocer trying to shift away from differentiating on price, and instead focusing on its values and unique attributes.
It now seems to be trying to do both - proving itself as a value retailer, plus push its credentials as a place to find fresh made produce in-store – as the ‘Price Crunch’ campaign runs in tandem with its recently released ad featuring a family sitting down to a roast dinner.
Andy Atkinson, Morrisons’ marketing and customer director, said: “We continue to listen hard to customers who say they want lower prices on staples and everyday family essentials. We are continuing to cut every price we can, as we make Morrisons even more competitive and improve our customers’ shopping trip.”
It comes ahead of Morrisons releasing its first quarter trading figures on Thursday (5 May). The retailer will hope to continue to positive trajectory of last year when it posted its first quarterly like-for-like sales growth in four years during the fourth quarter of its last financial year.