Supermarkets to slash prices on essentials
By Sarah Wood | 21st October 2020
Waitrose and the Co-op are cutting prices on hundreds of essential products this week, in preparation for a budget Christmas for customers.
Today Waitrose, which has stores in Cheltenham, Stroud and Cirencester, is cutting prices on more than 200 own-label products, including beef mince, tea and washing-up-liquid, by an average of more than 15 per cent, as reported by The Guardian.
Meanwhile, the Co-op, which has stores across the county, is investing £50m in lowering the price of more than 300 branded and own-label products, including rice, pasta and coffee, by nearly 15 per cent. It is also introducing a new low-price range for shoppers on a budget, which will include meat, fruit and vegetables.
The UK's sixth and eighth largest supermarkets are taking action after the big four supermarkets launched a price war to win over more shoppers whose finances have been hit by the Covid-19 pandemic.
In June, Tesco promised to match Aldi price on nearly 500 products, then Sainsbury's said it would cut prices on 1,000 products. Asda has pledged to invest £100m on price cuts, while last month Morrisons said it was cutting prices by an average of 23 per cent on 400 items.
More than a third (36 per cent) of shoppers expect to cut back on their festive spending this year, according to Retail Economics.
Copyright 2020 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.