Sainsbury’s has announced that it is investing £65 million into its pricing this month to ease pressure on consumers amid the rising cost of living.
This autumn, the supermarket chain says that it will invest £60 million to provide greater value to food and grocery customers via its Sainsbury’s Quality, Aldi Price Match, Special Offers and Price Lock initiatives. An additional £5 million will be spent to lower the prices of up to 900 Argos and Habitat furniture items.
Sainsbury’s is also increasing the number of own-brand products in Sainsbury’s Price Lock by 20% as the business sees more customers opt for cheaper own-label items.
The investment is part of the retailer’s commitment to spend £500 million by March 2023 to keep prices low.
The company says that its Sainsbury’s Quality, Aldi Price Match will continue to focus on the highest volume, fresh items that customers buy most often – such as chicken breast fillets, fat beef mince, milk and bread – “with 42% of the top 50 supermarket volume lines now included in the campaign”.
Simon Roberts, CEO of Sainsbury’s, said: “We know how tough this ‘back to school’ season is going to be for our customers. With families across the country facing big increases in their energy bills, the situation is serious, and our most important job at Sainsbury’s is to help our customers in every way we can. We have made huge strides to lower prices since we launched our new plan, but we are committed to going further.”
“Own brand is a great way for customers to reduce their shopping bill with no compromise on quality and that’s why we’re increasing the number of own-brand products in our latest Price Lock. These are difficult times and all of us at Sainsbury’s are standing with our customers to ease the financial pressure they face.”
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