Marks & Spencer invests in lower prices on 200 products in summer value push

Marks & Spencer’s food division is cutting the prices of 70 staple goods and has extended a price lock on 150 products.

The retailer is bringing down the price of items such as mince, avocados and yogurt, some of its most popular lines. It has sold 400,000 packs of avocados and 140,000 Greek Style Yogurt pots in the last four weeks alone.

At the same time, M&S Food is extending its price lock on items such as sausages, coleslaw and corn on the cob until autumn. 

The price push, which comes as grocers battle to woo shoppers whose spending power has been eroded, is in addition to the retailer’s Remarksable Value range, which has delivered a 40% year-on-year sales uplift.

Morrisons has also just announced a new raft of price cuts.

M&S Food managing director Alex Freudmann said: “We know value is everything to our customers right now and, while they’re looking forward to a great summer, they’re also looking for certainty on spending. Our latest price investment upholds our trusted value promise and delivers on that certainty.

“We’re determined to keep up the pace for our customers. Our value perception is at its highest point in six years because we are relentlessly focused on price with no compromise to the magic of M&S Food – our market-leading product quality, innovation and sourcing standards.”