New round of price cuts at M&S Food

M&S is the latest retailer to announce a round of price cuts on grocery lines.

The investment will see price cuts across 65 products with an average reduction of 6 per cent, with the retailer noting that it builds on the over 200 price cuts announced in October. 

Discounts include 350g of frozen strawberries, down 22 per cent at £2.50; a five-pack of organic Fairtrade bananas, down 16 per cent at £1.60; and 500g of Eat Well Select Farms seedless mixed grapes, down 4 per cent att £2.50.

The investment comes as M&S’ upcoming Family Matters Index indicates that people are feeling less optimistic about their family’s prospects over the next three months (46 per cent), than they did in October (48 per cent).

When looking ahead, four in 10 say they will be consciously spending less and saving more in 2024. Value remains the top priority when deciding where to shop, above store location or range of products.

Alex Freudmann, managing director of M&S Food, said: “Our customers are telling us that value is still very much front of mind as we start off 2024. In response, we need to keep delivering on our trusted value promise - offering the best possible quality at the best possible price.

“Our value and quality perception are at their highest point in six years compared to the market but we can’t be complacent. We need to keep our relentless focus on quality - making sure each and every product we offer has that M&S point of difference, from raising the bar on animal welfare to leading the way in responsible sourcing. All while, of course, offering that touch of M&S magic our 30m customers know and love.”