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Sainsbury’s to invest millions in prices to help shoppers with rising costs

Sainsbury’s has announced that it will invest millions of pounds into its range of pricing in a bid to help shoppers combat the soaring cost of living… View Article

FOOD & DRINK

Sainsbury’s to invest millions in prices to help shoppers with rising costs

Sainsbury’s has announced that it will invest millions of pounds into its range of pricing in a bid to help shoppers combat the soaring cost of living crisis.

The supermarket chain has said it will plough £65million into its pricing next month to help shoppers keep their grocery costs down when they are picking up the weekly shop.

The latest pricing pledge – which is part of wider a £500 million investment commitment – comes as fresh figures from the British Retail Consortium (BRC) reveal that customers witnessed 9.3% food inflation in August, compared with the same month last year.

The UK’s second largest grocery chain said £60 million of its latest cash injection will go towards food prices in September.

It said this will predominantly go towards the Price Lock campaign which freezes the price of a raft of its most popular products.

Around 2,000 food products and household items have had their prices fixed for at least eight weeks, including a number of own label lines.

Sainsbury’s said funding will also go towards its price match campaign against discounter rival Aldi.

Simon Roberts, Chief Executive of Sainsbury’s said: “We know how tough this ‘back to school’ season is going to be for our customers. With families across the country facing big increases in their energy bills, the situation is serious and our most important job at Sainsbury’s is to help our customers in every way we can.

“We have made huge strides to lower prices since we launched our new plan but we are committed to going further.

 

 

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