// Morrisons has slashed prices on hundreds of products in bid to heat up competition
// Prices are slashed by 15%
Morrisons has cut prices on hundreds of staple products in a bid to take on its Big 4 rivals.
Up to 500 grocery items have had their prices slashed by 15 per cent, with Morrisons announcing that the cuts would make products “more affordable” for consumers.
The grocer said it would cut prices on hundreds of more products in the coming weeks.
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“These price cuts will help customers manage their budgets. We’re cutting the price of hundreds of our customers’ favourite items and are holding them low,” Morrisons commercial director Andy Atkinson said.
The competition in the grocery sector is nothing new.
Just last week, Tesco announced it would begin matching prices with German discounter Aldi on hundreds of grocery items in a bid to fight for market share.
Tesco said the move was designed to ensure customers were “saving themselves a trip” to Aldi or Lidl.
This also isn’t the first time Morrisons has attempted to throttle its rivals.
Last month, Morrisons revealed plans to sell only free range eggs by 2022 in a bid to pressure other grocers into following the initiative.
Morrisons faced a challenging trading period after reporting a drop in group like-for-like sales in January.
For the 22 weeks to January 5, sales excluding fuel, dropped 1.7 per cent due to “challenging” trading conditions.
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