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Morrisons announces its biggest ever price cuts and unveils price transparency website

Bradford, England, 2014-5-1 — /EPR Retail News/ — Morrisons announces today that it is going to be permanently cheaper with price reductions on 1,200 everyday essentials, reinforcing its credentials as a fresh-led value grocer.

Today’s cuts, which average 17%, will span both own-brand and popular branded products which together make up most of families’ weekly shopping baskets. The latest price drops follow earlier ones on milk, fresh meat, fruit and vegetables.

Examples of the latest price cuts

Item Old price New price Saving %
Morrisons bacon 300g £2.55 / 2 for £4 £2.18 / 2 for £3.50 15%
Beef mince 500g £2.49 / 2 for £4 £1.99 / 2 for £3.50 20%
Morrisons fruit scones £0.79 £0.65 18%
Hovis Best of Both £1.35 £1.00 26%
Tate & Lyle Sugar £0.88 £0.79 10%
Napolina Chopped Tomatoes £1.25 £0.79 37%
Jammie Dodgers £1.09 £0.49 55%
Morrisons Crisps 6 pack £1.29 £0.85 34%
Morrisons Foil (30m) £3.80 £1.99 48%
Huggies Wipes £2.49 £1.00 60%
Diet Coke 8 pack £4.39 £2.64 40%
Stella Artois 15 pack £10.00 £8.00 20%
Morrisons British Butter 250g £1.49 £1.00 33%

Morrisons Chief Executive, Dalton Philips said:

“Morrisons is now cheaper. We are cutting prices not corners. We are making great food even more affordable and, in doing so, giving more reasons for customers to shop with us.”

The permanently lower prices will be matched by unprecedented transparency on pricing by a British supermarket. In May, Morrisons will launch a new website, powered that gives customers the ability to view the pricing history of an item to reassure them that they are getting a bargain. Customers will be able to compare what Morrisons prices were before – and are now.

Commenting on the new price transparency website, Dalton Philips added:

“We’re serious about getting cheaper and setting new standards in transparency of pricing. We want our customers to be proud of the products they buy and be reassured that they are cheaper. We have nothing to hide.”

The cheaper prices will be communicated to customers through a new marketing campaign with the strap line “I’m Your New Cheaper Morrisons”. This will launch on May 1st with multiple adverts in both the Emmerdale and Coronation Street breaks, as well as new point of sale signage in stores.

Morrisons is the UK’s second largest fresh food manufacturer and uniquely among the supermarkets, makes more than half of the fresh food it sells. It will be leveraging this vertically integrated structure to control to quality of products and to keep prices down, cost which competitors will find it hard to match.

EPR Retail News