Morrisons has launched a new “unbeatable prices” commitment, pledging that it will not be beaten on price by any of its five major supermarket rivals on more than 500 weekly essentials. The announcement, made on Monday August 24, comes after Morrisons was recently overtaken by Lidl and dropped to become the sixth-largest supermarket in the UK.
Price promise covers fresh and staple products
The promise will cover more than 500 weekly essentials, including fresh products such as bananas, tomatoes and carrots, as well as staples such as bread, butter and chicken fillets. It also extends to fresh lines across the retailer’s Market Street counters, such as its fishmongers and bakeries.
Morrisons said it will guarantee low prices on these products, ensuring customers can buy them at the same price or less than they would at rival stores. The chain runs around 500 supermarkets and 1,700 convenience shops.
Market position and competition
According to recent figures from Worldpanel, Morrisons was the sixth-largest supermarket group by market share, with an 8.5% share, in the 12 weeks to August. It was recently overtaken by Lidl and also remains behind Aldi, Asda, Sainsbury’s and Tesco.
The new commitment signals another potential intensification in the price war between the UK’s top grocers as they seek to draw in more shoppers. Morrisons will be hoping its pricing strategy can help drive a recovery in its share of the UK grocery market, which has slipped back in recent years.
Company statement and context
Alex Paver, customer and marketing director at Morrisons, said: “Customers shouldn’t have to choose between great prices and great quality – and at Morrisons, they don’t have to. Our unbeatable price commitment means customers can trust that the prices on these products simply won’t be beaten by Asda, Tesco, Sainsbury’s, Aldi or Lidl. And uniquely at Morrisons, that unbeatable value comes alongside the quality, freshness and expert service we’re famous for – from bread baked fresh in store to food prepared by our skilled Market Street colleagues.”
The move comes two years after Morrisons first launched a price match against hundreds of Aldi and Lidl products as part of its fightback against the German discounters. It also comes days after accounts showed that Morrisons shed almost 5,000 jobs last year as part of efforts by the private equity-backed grocer to shore up its finances and turn around its performance.
