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Waitrose announces record price cuts

Britsh grocer Waitrose is committing a record £100m to lower the prices of hundreds of everyday products, making it easier for customers to keep buying quality products when household budgets are under pressure.

The price cuts begin in mid-February on over 300 popular own-brand products, from British carrots and frozen peas to Fairtrade tea and British sausages made from outdoor-bred pork. Nearly a quarter of prices are being cut by 20% or more.

The cuts include reducing the prices of nearly one-third of our lowest-priced Retail-own brand range, ‘Essential Waitrose,’ by an average of 14%.  There are over 900 products in the Essential range, which is the largest value range of any supermarket and is shopped by nearly 7 in 10 customers.  On average, customers buy more than four Essential items each time they shop with us.

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 favorites from carrots to butter, and tea and coffee, 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.”

The price cuts include a range of British products from vegetables to ham and cheese, further emphasizing our commitment to supporting UK suppliers.

In recent months, we’ve invested heavily to support our British farmers through very challenging times. This has helped make sure their businesses survive for generations to come and keeps their high-quality products on our shelves.

James Bailey added: “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.”

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By Published On: March 14th, 2023

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About the Author: Christopher Durham

Christopher Durham is the president of the Velocity Institute. Prior to this he founded the groundbreaking site My Private Brand. He is the co-founder of The Vertex Awards. He began his retail career building brands at Food Lion and Lowe’s Home Improvement. Durham has worked with retailers around the world, including Albertsons, Family Dollar, Petco, Staples, Office Depot, Best Buy, Metro Canada. Durham has published seven definitive books on private brands, including Fifty2: The My Private Brand Project and Vanguard: Vintage Originals.

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