B&Q splashes out £100m to cut prices

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B&Q cut prices

B&Q is set to splurge £100 million in an investment drive that aims to lower overall shop prices and cut back on promotions and discounts.

The DIY retailer’s new strategy has already seen it drop prices on 2000 items, with an average saving of 15 per cent.

There are plans to lower prices on additional products later in the year.

B&Q will also reduce the use of “short-term pricing” deals and discounts, including multi-buys.

The price cuts were partly achieved through parent company Kingfisher’s decision to unify the buying functions across its divisions, which also includes Screwfix.

“People may enjoy hunting for the best deal, but at the end of the day there is much more comfort knowing that there’s one place where you can always get a low price,” B&Q commercial director Paul White said.

“All customers want to have prices they can trust and, as industry leaders, it’s our responsibility to look after their best interests by ensuring our customers get our most competitive price.”

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