Morrisons to cut prices with 'Price Crunch'
Morrisons have suffered from confusing price offers in recent months, which they ended up dropping.
The supermarket has had a think, and decided on a new tactic, and is rolling out a new campaign called 'Price Crunch', where they vow to cut the price of 1,072 items. They're going to focus on fresh food, and say that there'll be an average reduction of 19% and big discounts on fruit and veg.
Aldi and Lidl have won a lot of customers over by forgoing deals that promise to match prices and give money back on the difference on groceries, instead, focusing on keeping prices consistently low. It seems Morrisons have cottoned on to this idea.
Chief executive, David Potts said: "We continue to listen carefully to customers and they have told us they want lower prices, particularly on fresh food and everyday essentials. As we improve our customers’ shopping trip we are becoming more competitive with our own distinct set of prices."
Morrisons have pointed out that they make more than half of the fresh food they sells, and so, by keeping costs down in manufacturing, they say they'll be able to keep prices low in the supermarket.
You'll be seeing 'Price Crunch' marketing soon enough, both inside stores and externally, with a campaign of lower prices that are on a three month cycle. Whether consumers are going to go for it, is another matter. More options for consumers is good, but Morrisons have still got a long way to go if they're going to win back those they've lost to the budget supermarkets.