Waitrose is cutting over 300 prices across a range of own-label lines, but has reiterated its support for farmer suppliers.
The retailer announced it is spending a record £100m to lower the prices of hundreds of everyday products, which it said will make it easier for customers to keep buying quality products when household budgets are strained.
The price cuts kicked off on February 15 on over 300 own-brand products, with nearly a quarter of prices being cut by 20% or more. The cuts include nearly a third of Waitrose’s lowest-priced own-brand range ‘Essential Waitrose’ by an average of 14%.
Waitrose noted that on average customers buy more than four Essential items each time they shop.
James Bailey, executive director for Waitrose, said: “We understand that getting value for money has never been more important for everyone. So we’re cutting the prices of hundreds of everyday favourites, with many cut by 20% or more. This means our customers can enjoy greater value in every shop, and by lowering prices in our Essential range we’re making our lowest prices even lower.
“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.”
Waitrose pointed out that it has been investing its British farmers through very challenging times. “Supporting our farmers is as important as supporting our customers. Last year alone, we paid our British beef, chicken, egg, milk, poultry and salmon farmers an additional £56m as a result of the increase in costs they were facing.
“We remain committed to buying British and to the highest animal welfare standards, not just for whole cuts of meat but in other products from sandwiches to stocks and mayonnaise.”