As new data from Kantar revealed the struggles of British consumers to fight off inflation, Waitrose joined its competitors in slashing prices, including reducing items that were already on sale.
Putting what it says is a £100m investment to “lower prices on hundreds of everyday favourite products,” Waitrose has trimmed some items by a further 20%. The reductions include fresh produce items such as British carrots and frozen peas.
Waitrose and other supermarkets have been out front with one important message to shoppers as they try to squeeze everything out of their spends: They will not sacrifice quality in the process.
“We understand that getting value for money has never been more important for everyone,” James Bailey, Executive Director for Waitrose, said. “Although we’re cutting prices we won’t compromise our commitments to delivering excellent customer service, exceptional quality and the unique ranges we know our customers love; as well as our commitments to our farmers and suppliers which means customers can continue to feel good about shopping with us.”
The price cuts include more than 300 own-brand items, which is crucial as UK consumers have shown an increasing lean toward them in lean times. The cost savings stretch beyond produce to meats and teas. One third of the supermarket’s Essential range has been trimmed by another 14% overall.
Included in Waitrose’s price cuts are its Essential British and LEAF-accredited Savoy Cabbage, down from 90p to 70p, and 1 kg carrots down from 60p to 50p.
At the same time, Waitrose said is it committed to helping British farmers, who have been hit equally as hard as shoppers – facing rising inflation, energy costs and substantial increases to maintenance, as well as shortages to labour. The chain has delivered more than £55m in financial assistance to assist them.
“In recent months, we’ve invested heavily to support our British farmers, through very challenging times,” Bailey said. “This has helped make sure their businesses survive for generations to come and keeps their high quality products on our shelves.”
