B&Q to invest £100m in new 'Do It For Less' pricing strategy
DIY retailer B&Q is investing over £100 million in adopting a new pricing strategy that includes price drops on an initial 2,000 products.
The company said the items are being offered with an average saving of 15%.
B&Q is simplifying its prices by reducing the use of short-term pricing deals and discounts, including multi-buys and loyalty scheme benefits.
Products with price cuts include a Flymo 1300w Hovervac 280 mower, now 17% cheaper, the Bosch PMF 220CE Multitool, now 23% cheaper, and Cuprinol garden shades paint, now 32% cheaper.
From 15 July, B&Q will be promoting its 'Do It For Less' price drops on TV and through press, digital and social media, as well as in-store marketing.
The company said there will be more price cuts later in the year.
Paul White, commercial director at B&Q, said: “We moved to everyday low prices in our kitchen range nearly four years ago and with our investment of over £100 million in our “Do It For Less” pricing strategy, we’re extending the clarity and transparency of that across many more of our products. This means customers can feel confident in the knowledge that they will always enjoy competitively priced products at B&Q.”
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