Sainsbury’s today said that it will cut prices of around 250 products to match the equivalent items at the German discounters.
The supermarket chain said price reductions will include reducing a kilo of plain flour from 80p to 45p, a kilo of baby potatoes from 95p to 65p and a 21-day matured rump steak from £2.50 to £2.32.
Mark Given, chief marketing officer, said that the price reductions will be funded by a “significant investment” by Sainsbury’s.
“We recognise that giving customers good value is a core part of our strategy so will invest to keep prices low,” he said.
“When we’ve completed research, our shoppers have highlighted our quality and value for money, but with customers who also shop in other supermarkets we need to improve our price perception.”
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