Amidst growing concerns, Iceland is calling for legislative changes to permit price promotions on infant formula.
- The retailer seeks the reversal of regulations that limit purchasing formula with loyalty points or vouchers.
- There is a significant price reduction by Iceland on baby formula, exceeding 20%, to aid consumers.
- Iceland proposes an increase in the value of Healthy Start vouchers to address price hikes effectively.
- Research reveals 86% of parents face challenges in affording baby nutrition amidst economic pressures.
The frozen food retailer, Iceland, is advocating for urgent reforms in legislation that currently hinders retailers from offering price promotions on infant formula. These regulations also restrict purchases using loyalty points, store gift cards, or food bank vouchers, while preventing price reductions for products nearing their expiration dates.
In a robust move to alleviate financial strain on parents, Iceland has slashed prices on a range of baby milks, including infant, follow-on, and toddler formulas, by more than 20%. This initiative is part of a larger £26 million annual investment aimed at maintaining affordability for consumers amidst rising living costs.
Iceland is further pressing the government to reassess the current £8.50 weekly allocation for Healthy Start vouchers provided for infants below one year. Given the recent surge in prices, Iceland argues that an increase in voucher value is crucial to support families effectively.
Highlighting the severe impact of the cost-of-living crisis on families, research commissioned by Iceland indicates that a substantial 86% of parents express concerns about their ability to afford adequate nutrition for their babies. This underscores the urgent need for legislative and financial measures to assist struggling families.
Richard Walker, the executive chairman of Iceland Foods, has been vocal about the necessity of these changes. He remarked, ‘The benefits of breast feeding versus using infant formula aren’t up for debate: this is about supporting the choices of UK parents as they navigate the cost-of-living crisis.’ Walker emphasises that the law must evolve to empower retailers to aid families without facing legal reprisals.
Iceland’s campaign reflects a critical push towards legislative changes to better support families during economic challenges.
