Waitrose has announced a significant price reduction strategy, investing £10m into lowering prices of premium No.1 and Duchy organic products.
- The investment marks the sixth round of price slashing since February 2023, bringing the total investment in price cuts to £140m.
- This initiative under the ‘Lower Prices’ campaign has, so far, lowered the prices of almost 1,400 products.
- Highlighted price cuts include staple items like the No.1 white sourdough loaf and Duchy organic basmati rice.
- Waitrose aims to offer value while promoting organic products, aligning with Organic Month celebrations.
In a bold move to enhance customer value, Waitrose has announced a £10m investment aimed at reducing prices across nearly 250 products within its premium No.1 and Duchy organic ranges. This forms the initial phase of its latest commitment to making premium offerings more accessible. This investment is part of a broader strategy that has seen the supermarket chain allocate £140m towards price reductions over the past 18 months.
Since February 2023, Waitrose has systematically reduced prices on hundreds of items, implementing this strategy for the sixth time. The company’s ongoing ‘Lower Prices’ campaign has successfully impacted nearly 1,400 products so far. Waitrose’s commercial director, Charlotte Di Cello, emphasized the strategic importance of these reductions, particularly in the premium segments that resonate with customers.
This current phase of price cuts includes notable reductions on key products such as the No.1 white sourdough loaf, which saw its price drop from £2.20 to £2.00, and the No.1 vintage Cornish cheddar, reduced from £3.35 to £3.00. Additionally, the Duchy organic basmati rice has experienced a significant price reduction from £3.40 to £3.00, representing an 11.8% decrease. Such price adjustments underscore Waitrose’s dedication to offering quality at competitive prices, particularly in the organic market.
The timing of these cuts coincides with Organic Month, making it an opportune moment for customers to explore the Duchy organic range. As Di Cello noted, “With many celebrating Organic Month this September, there’s no better time to try our Organic Duchy food and drink.” This strategic alignment not only enhances customer experience but also strengthens Waitrose’s position as a leader in the organic sector.
Waitrose’s significant investment in price cuts underscores its commitment to affordability and quality in the premium market segment.
