Marks & Spencer has announced a price lock on 140 popular grocery items until the year’s end, part of their commitment to providing value without compromise.
- The price lock includes reductions on staples such as cheese, butter, and more, ensuring customers access to affordable essentials.
- Highlighted items include British pork sausages, frozen chips, and Braeburn apples, all reflecting M&S’s effort to maintain competitive pricing.
- The retailer has reported an impressive 11% increase in food sales, anticipating continued profit growth through April 2024.
- This strategic move underscores M&S’s dedication to supporting British farmers and maintaining high product quality.
Marks & Spencer, a renowned retail chain, has pledged to lock prices on 140 of its popular grocery items until the end of the year, responding to consumer demand for value and affordability. This initiative highlights M&S’s strategy to offer competitive pricing on essential food products without compromising on quality.
Among the price-locked items are essential household staples. Notably, RSPCA Assured outdoor-bred British pork sausages are available at £2 for a pack of eight, while homestyle frozen chips are priced at £2.50 for 1kg. The inclusion of such popular items signifies M&S’s commitment to meeting customer needs while supporting sustainable farming practices.
Further, M&S has reduced the price of key dairy products within its ‘Remarksable Value’ range. The price of 350g British mature cheddar, now £2.65, down from £2.80, and 250g British salted butter, reduced to £1.80 from £1.90, are part of this initiative. This move not only reflects competitive pricing but also M&S’s emphasis on maintaining premium quality.
The retailer’s strategic decision comes as it reports an over 11% increase in food sales over a 19-week period ending 12 August. M&S forecasts further profit growth in the fiscal year ending 1 April 2024, showcasing a successful adaptation to market demands.
According to M&S Food Managing Director Alex Freudmann, this price lock is accompanied by investments in their ‘Remarksable Value’ range. Freudmann emphasises that while customers prioritise value, they also expect high quality, met through campaigns like Farm to Foodhall, which supports dairy farmers adhering to strict animal welfare standards.
M&S’s commitment to price stability and quality underlines its dedication to both consumer satisfaction and sustainable farming practices.
