The Co-op announces price cuts on its “own-brand” British sourced meat and poultry products

MANCHESTER, England, 2016-Mar-02 — /EPR Retail News/ — The Co-op has today (Wednesday 2 March 2016 ) announced a raft of multi-million pound price cuts that will save customers over £125 a year* and shows its support for British farming.

The mutual will cut the cost of over 200 of its “own-brand” British sourced meat and poultry products as part of the next round of its price investment strategy. Annualised investment in cutting the costs of products will top £200m by the end of the year and The Co-op will have reduced prices on over 1,000 items since it unveiled its pricing plan.

The new reductions will trim the average Co-op shopper’s annual food bill by over £125 and prices will drop by as much as 50 percent but by around 10 percent on average across meat and poultry goods. As well as lower prices, The Co-op will also introduce a new multi-buy offer of 2 for £6 on chicken fillets and mince. All of The Co-op’s “own-brand” meat sold in its stores is 100% British, with the specific exception of New Zealand lamb and Danish bacon which are offered alongside British varieties.

The Co-op hopes to build on its positive momentum and attract even more shoppers after Kantar declared it the fastest growing non-discounter retailer and the most frequently visited major supermarket.

The pricing investment is part of The Co-op’s commitment to source British products and, in a report launched today by the retailer, it announced new support for UK farming by extending its British lamb season in store, widening its British fruit and veg offer with more crops made available and unveiling a new young farmers initiative. In the first year of a three-year commitment to British farming, The Co-op confirmed it had invested £781m to source ‘own brand’ British meat, produce and dairy products from the UK, rather than alternatives from abroad.

Steve Murrells, Retail Chief Executive, The Co-op, said:

“This is a major investment in British meat and poultry. We are building momentum and attracting more shoppers into our stores and our price investment programme is ensuring our convenience offering remains highly competitive while restating our commitment to sourcing British products.

“We are on the cusp of something exciting and industry data shows that we are winning and that our strategy is taking us in the right direction. Further price reductions will serve to grow our convenience appeal to shoppers as the combination of changing shopping habits and the rise of the discounters takes a bite out of other retailers’ market share.”

The community retailer has reduced prices across more than 1,000 products in the past two years after dropping prices across its range of fresh fruit and vegetables last summer when it launched its new ‘Fresh Three’ promotion which came hot on the heels of lower prices on everyday staples, such as bread.

Further Information:

• Craig Noonan, Head of Retail PR – Contact: M: 07702 505 439 / E: craig.noonan@co-operative.coop
• Andrew Torr, Co-op Press Office – Contact: M: 07702 505 551 / E: andrew.torr@co-operative.coop

*The average Co-op shopper makes 3.8 visits per week and based on purchasing each of the following items each week could save £128.44 a year:

  • 6 large free range eggs – £1.29 down from £1.75
  • 220g salmon fillets – £2.99 down from £4
  • 500g mince and 450g chicken fillets – 2 for £7 multi-buy reduced to 2 for £6 multi-buy

 

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The Co-op announces price cuts on its "own-brand" British sourced meat and poultry products

The Co-op announces price cuts on its “own-brand” British sourced meat and poultry products

Morrisons cuts the regular price of more than 130 shopping basket staples by 22%

Bradford, England, 2015-2-16 — /EPR Retail News/ — Morrisons has announced that from today it is cutting the regular price of more than 130 shopping basket staples by an average of 22 per cent. These are items that most customers put in their baskets most regularly.

The price of essentials such as bread, milk, butter, eggs, coffee, sugar, fruit juice and pasta will be reduced.

The price cuts, led by Morrisons, are an important contributor, to the falling rate of inflation highlighted by the Bank of England last week.  Governor Mark Carney said that the UK might experience deflation in the spring.

This round of cuts will be across both big-brand and own-brand products including:

Item Old price New price Saving %
Warburton White Medium Loaf, 800g £1.45 £1.00 31%
Morrisons Milk, 4 pints £1.39 £1.00 28%
Morrisons Savers Butter, 250g £0.99 £0.91 8%
M Medium Free Range Eggs, 6 pack £1.39 £0.99 29%
Nescafe Original Coffee, 300g £7.45 £5.79 22%
Silverspoon Granulated Sugar, 2kg £1.55 £1.20 23%
Kellogg’s Corn Flakes, 500g £1.45 £1.09 25%
M Orange Juice, 1 litre £1.00 £0.69 31%
M Spaghetti, 500g £0.95 £0.59 38%

Morrisons Group Marketing and Customer Director Nick Collard said: “These are ongoing lower price cuts, not promotions.  The price cuts we have now made across products that customers buy week in, week out, are making a real difference to the cost of the weekly family shop.”

Sainsbury’s announced over 1,000 price cuts on some of its most popular products

LONDON, 2015-1-7 — /EPR Retail News/ — Sainsbury’s has today announced over 1,000 price cuts on some of its most popular products – including British essentials for a Sunday lunch or a full English breakfast.

The retailer is using an annual £150m price investment to cut regular prices on over 1,000 of the most popular items in customers’ baskets – the things customers really buy each week.

Customers will see over 700 new regular prices in supermarkets this week in addition to over 200 put in place following a first round of cuts in November. These are in addition to the thousands of promotions that the supermarket runs each week.

And because it’s Sainsbury’s, responsibly sourced products such as Scottish salmon and British bacon and lamb are among the products that will go down in price.

Sainsbury’s CEO Mike Coupe said: “We are investing £150 million per year for the next three years in some of our customers’ most popular purchases, with a total of 1,000 prices cut since we announced this investment in November. This will come as welcome news to customers who might be feeling the pinch after Christmas.

“These lower everyday prices are a part of our ongoing commitment to offering our customers great quality products at great prices.”

Notes to editors

Further price cuts in details (PDF download)

Full English price cuts* Old New
JS White Sandwich Loaf 800g £1.30 £1.00
JS 8 British pork sausages 454g £1.40 £1.10
JS 12 smoked and unsmoked bacon rashers 2 X 225g £4.00 £3.50
JS salted and unsalted butter 250g £1.10 £0.95
JS Semi-skimmed UHT milk 1L £0.90 £0.70
JS Tomato Ketchup 460g £1.10 £1.00
JS Orange Juice smooth 1L £1.10 £1.00

* Eggs price drop October 2014

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Sainsbury’s announced over 1,000 price cuts on some of its most popular products

Sainsbury’s announced over 1,000 price cuts on some of its most popular products