Bradford-based Morrisons launches its "unbeatable prices" promise today
The supermarket hopes to regain shoppers after slipping to sixth place in the UK grocery market
Morrisons, the supermarket chain based in Bradford, has made a bold promise to its customers, pledging unbeatable prices compared to its biggest supermarket rivals on hundreds of everyday items.
This move could stir up the ongoing price battle among the UK's top grocery retailers, as they all strive to attract more customers.
With around 500 supermarkets and 1,700 convenience stores under its belt, Morrisons hopes this pricing strategy will regain its foothold in the UK grocery market, where its share has dropped.
Recent figures from Worldpanel show Morrisons held an 8.5% market share during the 12 weeks leading up to August, placing it as the sixth-largest supermarket group, after being overtaken by Lidl and trailing behind Aldi, Asda, Sainsbury’s, and Tesco.
On Monday, the Bradford-based supermarket introduced its “unbeatable prices” commitment, guaranteeing that the cost of over 500 essential weekly items won't be surpassed by any of its five major competitors.
The promise covers fresh items like bananas, tomatoes, and carrots, as well as staples like bread, butter, and chicken fillets, ensuring customers can find these products at the same price, or cheaper, than they could at rival stores.
Morrisons has included fresh offerings from its Market Street counters, such as products from its fishmongers and bakeries, in the commitment.
This initiative follows the company’s previous price match efforts against Aldi and Lidl products over the past two years.
This announcement comes shortly after Morrisons revealed a reduction of almost 5,000 jobs last year as part of its strategy, backed by private equity, to strengthen its financial position and boost performance.