Morrisons has reported a 2% increase in sales during the third quarter.
- From 29 April to 28 July, sales reached nearly £4bn, driven by strategic initiatives.
- The retailer improved availability through AI-powered systems across 400 stores.
- Significant investment in the More Card programme enhanced customer loyalty.
- Morrisons has stabilised market share amidst a softer market environment.
Morrisons, a prominent UK supermarket chain, has announced a modest yet noteworthy 2% increase in sales for its third quarter, highlighting a focus on strategic growth areas. This growth, which took place between 29 April and 28 July, saw the retailer’s sales approaching £4 billion as it concentrated on commercial excellence, operations optimisation, and new value creation.
Key to this success was the addition of 50 products to its price match schemes with discount competitors Aldi and Lidl, expanding the total matched items to almost 300. This move underscores Morrisons’ commitment to maintaining price competitiveness and enhancing customer value proposition amidst a challenging retail landscape.
Moreover, the retailer has made significant strides in improving product availability by 2% year-on-year. This was accomplished through the deployment of AI-powered availability cameras in over 400 stores, enhancing the supply chain’s efficiency and ensuring customers find stocked shelves.
Enhancing customer loyalty was another focal point, demonstrated by substantial investments in the More Card loyalty scheme during August and September. CEO Rami Baitiéh remarked, “Loyalty remains a key focus for us,” as the programme introduced over 2,000 new More Card prices, signalling a transformative phase for the loyalty initiative.
Morrisons is also on track to reduce its debt by £370 million through a deal with Song Capital, which involves a 45-year ground rent agreement across 75 stores. This financial strategy aligns with the overall objectives of leveraging assets to improve fiscal health, contributing to a more robust economic standing for the company.
Morrisons’ strategic efforts in price competitiveness, availability, and customer loyalty have led to stable market positioning despite broader market challenges.
