Waitrose is targeting Sainsbury’s with its price promotions in an effort to change customers’ perceptions and lift sales.

The grocer is matching Sainsbury’s on about 300 products, including Lenor, Lucozade, Colgate, Wrigleys and Volvic.

Managing director Mark Price said that some people believed it was 12 per cent more expensive than Sainsbury’s, but this was not the case for standard lines.

He said: “It is a long-term way of saying that on basic lines we are the same as other supermarkets.” However, he said that Waitrose customers pay a premium on certain luxury items, such as oysters, caviar and champagne.

Separately, Price gave a thumbs up to the Competition Commission’s remedies report published last week.

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