Marks and Spencer is the latest grocer to promise to keep prices low for customers facing the cost of living.
The 138-year-old retailer no longer wants to be seen as just a luxury option, it’s expanding its range of supermarket-style products.
It launched a ‘remarkable’ range of values in 2019 and has since invested £100m to offer low prices on products such as ground beef, milk and bananas.
And yesterday it lowered prices across the entire value range.
Marks and Spencer has moved its Remarksable supermarket-style range away from its image of a luxury option.
In a letter to customers, new CEO Stuart Machin pledged to protect the brand’s high-quality products by offering “great value every day.”
He outlined new lower prices for key products such as milk, bread, beef and spaghetti, and said M&S “invested in the value of everyday products that families buy each week without sacrificing quality.”
Machin said: “We want M&S to be more relevant and so now is the right time to move forward by investing in the value of everyday items that families buy each week without sacrificing the quality of the products. our customers want and expect from us.’
M&S has also extended its iconic Dine in For Two deal to the entire family. By the end of the month, family meal options will include a £10 pizza to feed a family of four, as well as lasagna and Mexican options.
As the cost of living crisis escalates, shoppers are tightening their belts.
They took a hit this month when the energy price cap rose from £700 to around £2,000. Official forecasts also predict inflation to approach 10% this year.
Asda escalated the price war between supermarket giants last month when it launched a budget range to compete with its rivals.
It launches the Just Essentials line in its stores and online to keep prices low for shoppers.
Sainsbury’s and Tesco have also promised to keep prices low for customers as inflation rises.
Meanwhile, German discounters Aldi and Lidl have pledged to be the UK’s cheapest supermarkets this year.
Source: Daily Mail
