Morrisons has launched a new price pledge across more than 500 everyday products.
The grocer’s new “unbeatable prices” commitment promises that the products covered will cost the same or less than at Aldi, Asda, Lidl, Sainsbury’s and Tesco.
The initiative spans weekly essentials including bananas, tomatoes, carrots, bread, butter and chicken fillets, alongside fresh products sold through Morrisons’ Market Street counters, including its bakeries and fishmongers.
It marks an expansion of the supermarket’s focus on price after it launched a price-match scheme against hundreds of Aldi and Lidl products two years ago.
Morrisons customer and marketing director Alex Paver said the move meant shoppers could trust that prices across the selected range “simply won’t be beaten” by its five major rivals.
He added that the retailer would combine its focus on value with the fresh food and in-store service offered through its Market Street operations.
The latest price push comes as Morrisons battles to regain momentum in the fiercely competitive grocery market.
The supermarket was overtaken by Lidl earlier this year, knocking it out of Britain’s top five grocers. Retail Gazette reported in May that Lidl had grown its market share to 8.6 per cent, helped by £661m of sales switching from rival supermarkets.
More recent Worldpanel figures put Morrisons’ share at 8.5 per cent in the 12 weeks to August, leaving it behind Tesco, Sainsbury’s, Asda, Aldi and Lidl.
The new pricing strategy also follows a significant cost-cutting drive at the company.
Morrisons’ workforce fell by almost 5,000 employees during its last financial year, with its average headcount dropping from 101,144 to 96,232 as it pushed ahead with restructuring and efficiency measures.
Despite the reduction, full-year revenue increased 3.2 per cent to £15.8bn and like-for-like sales rose 2.8 per cent, while Morrisons delivered £233m of savings during the year.
It expects to exceed its £1bn cost-saving target by the end of its 2025/26 financial year.
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