Connect with us

Hi, what are you looking for?

United Kingdom

Supermarkets cut prices as shoppers expect to spend less at Christmas

Christmas supermarket wars have broken out as Waitrose and the Co-op cut hundreds of prices.

Waitrose is lowering the price of more than 200 of its “basic” own label items.

And the Co-op is spending £50 million on lowering the price on more than 300 branded and own label goods.

Advertisement

It is also introducing an “Honest Value” range of 50 items – including British meat, soft drinks, and fruit and veg.

Both companies are looking at offering 15% reductions.

Jo Whitfield, the chief executive of the Co-op’s food stores, said:

“Value is uppermost in the minds of shoppers.”

Both supermarkets are acting after the big names – Tesco, Asda, Morrisons, and Sainsbury’s – cut prices.

Family finances are being strained by the Covid-19 pandemic.

It’s feared people will be “less indulgent” over the festive period.

Richard Lim at Retail Economics said:

“It is going to be incredibly challenging to deal with the levels of demand given the restrictions in place because of Covid-19.

“The tactic is to build up a bit of loyalty ahead of Christmas.”

Only 12% of shoppers expect to spend more this Christmas than last, said Mr Lim.

Nearly 40% plan to cut back.

 

Comments

Latest Tweets

London Globe

Calls for EU to investigate Russian payments to Maltese dentist. london-globe.com/european-uni… zpr.io/DSCQfaBy9JKt #news #

Advertisement

You May Also Like

United Kingdom

Film director Ridley Scott has recalled the death of actor Oliver Reed while making the Oscar winning blockbuster Gladiator. Scott said hard-drinking Reed “just...

Business

The controversial Russian businessman Viktor Baturin, well-known for his years-long counterstanding with his wealthy sister Elena, widow of Moscow ex-mayor Yuri Luzhkov, is likely...

United Kingdom

The Tremeloes. Dave Munden centre Dave Munden the Tremeloes drummer – and often lead singer – with the 60s chart toppers has died. He...

European Union

KAPIKULE, TURKEY, May 24th, 9:00 GMT]- Over 100 members of The Ahmadi Religion of Peace and Light, a persecuted religious minority, who have presented...