Morrisons cut prices of 200 things
The new chief executive of Morrisons, David Potts, always makes us sing The Kinks/Jam song 'David Watts', which means he must be a dull and simple lad who cannot tell water from champagne. Never mind all that though, as he's ushered in a wave of price cuts for the beleaguered retailer.
There's going to be 200 items being sold more cheaply, including a lot of basics like milk, butter and bread, some of which are being dropped in price by as much as a third.
So, if you buy four pints of milk, that's gone from £1 to 89p - diary farmers will be thrilled about that, no doubt. If you buy 1kg of Tate & Lyle granulated sugar, that's been reduced by 25%, so it is now 25p - no doubt no-one cares about sugar farmers.
Potts said: "We want to be the best value retailer – offering customers the best price for good quality British products. Today we’ve reset some of our prices so that our cupboard essentials will be amongst the lowest on the market."
Is this enough? Usually, cutting the price of basics only works if you want to buy other things from the shop. There's no point going to a shop to save 11p on milk if there's nothing else you want in the store. That said, savings are savings.
One of the things that Morrisons have been promising, is to simplify offers and deals, which is something that a lot of supermarkets have resolutely failed on. However, with shoppers liking Aldi and Lidl's lack of deals, in favour of consistently low prices, Morrisons might be barking up the wrong tree on this one.