Initiative aims to keep a lid on prices of everyday essentials ahead of difficult autumn and winter
Sainsbury’s is investing £65 million in keeping prices down this month as the cost-of-living crisis grows.
In what it describes as its ‘biggest-ever September value offer’, the move will see Sainsbury’s invest £60m throughout the autumn in food and grocery via its Sainsbury’s Quality, Aldi Price Match campaign, the Price Lock promise and everyday special offers.
The investment in food is part of a commitment by Sainsbury’s to spend £500m by March 2023 to keep prices down.
Under the latest initiative, Sainsbury’s is increasing the number of own-brand products in its Price Lock promise by 20 per cent. Price Lock holds the prices of up to 2,000 household and cupboard items for at least eight weeks. Around 8 per cent of all the products Sainsbury’s sells are now included in the Price Lock campaign, with further products added to this latest round.
At the same time, Sainsbury’s Quality, Aldi Price Match will continue to focus on the highest-volume, fresh items that customers buy most often, with 42 per cent of the top 50 supermarket volume lines now included in the campaign.
The supermarket also announced it is investing a further £5m to lower the prices of up to 900 Argos and Habitat furniture items.
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.
“Own brand is a great way for customers to reduce their shopping bill with no compromise on quality and that’s why we’re increasing the number of own-brand products in our latest Price Lock. These are difficult times and all of us at Sainsbury’s are standing with our customers to ease the financial pressure they face.”